Sei Network Transitions to EVM-Compatible Layer-1 Chain with $128 Million Locked
- Technical Transformation: Sei Network is transitioning to a fully EVM-compatible Layer-1 chain aimed at enhancing staking functionalities and simplifying its network structure, thereby improving developer accessibility and network speed.
- Locked Value Growth: Sei Network currently boasts approximately $128 million in total value locked, with net inflows gaining traction, indicating increased user engagement and bolstering market confidence.
- Price Stabilization Outlook: Despite SEI's price fluctuations under market pressure, long-term charts suggest strong support between $0.10 and $0.12, potentially laying the groundwork for future rebounds.
- Market Trend Influence: Growing interest in Ethereum's Layer-2 solutions and advancements in Solana are fostering market enthusiasm for efficient networks, aligning with Sei Network's emphasis on speed and efficiency.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 17.683 | 42.592 | 69.303 | 94.212 | 120.923 | 145.832 | 172.543 |
| Fibonacci | 42.592 | 62.311 | 74.493 | 94.212 | 113.931 | 126.113 | 145.832 |
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