Etherscan Broadens Its Reach to SEI Crypto Due to Surging Demand: Is a SEI Pump Expected in September?
Etherscan has branched out to SEI crypto with the introduction of Seiscan. As Seiscan is now operational, the real challenge lies ahead – could September trigger a shift in SEI price?
Per SEI’s official blog, Seiscan integrates Etherscan’s infrastructure to the blockchain, allowing users to access comprehensive distributed database data in one location.
Etherscan functions similarly to a search engine for blockchain records, enabling users to monitor transactions, digital wallet activity, smart contracts, token details, and gas fees in real-time.
Etherscan processes over a billion API requests daily and caters to millions of active users. It is regarded as the benchmark tool across ETH Virtual Machine (EVM) networks. Its expansion to SEI now provides developers and traders with these same resources, reinforcing SEI’s status as a swift, institution-grade EVM chain.
This development is a crucial advancement for the Sei ecosystem, and the blog emphasized the advantages that could bolster Sei’s position in the larger distributed database landscape.
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SEI Price Prediction: How Might Seiscan’s EVM Compatibility Influence SEI Price in September?
As of the latest news, the SEI price is hovering around $0.279, reflecting a decrease of -4.93% in the past 24 hours according to Tradingview data.
(Source – SEI USDT, TradingView)
The trading market appears cautious following multiple unsuccessful attempts to rally. In the one-hour Heikin Ashi chart, the token has had difficulty maintaining momentum over $0.29. Sellers have applied pressure during recent sessions. Trading volume remains stable at approximately 17K, indicating a lack of strong conviction on either side.
From a technical standpoint, SEI is situated below the 50-period and 100-period exponential moving averages (EMAs), set at $0.2859 and $0.2863, respectively. Both levels are serving as resistance.
This configuration suggests a downtrend trend. Earlier in the week, efforts to break above these points faltered, accompanied by sharp retreats.
The chart displays lower highs and lower lows, indicating a lack of strength. Nonetheless, temporary recoveries signal that buyers are still intervening during dips, with base level forming around $0.275. A decline below this level could lead to new local lows.
In summary, the technical outlook remains cautious. Unless buyers can push the price above $0.286 with force, short-term weakness is expected. Sellers continue to maintain control.
Crypto analyst Ali Martinez shared a chart on X suggesting a potential uptrend turnaround for SEI price.
His 4-hour chart of the SEI/USDT perpetual contract on Binance shows the coin near $0.2867. The configuration indicates a breakout from a descending wedge.
The chart emphasizes critical Fibonacci retracement levels. Support is located around $0.2851 at the 0.786 Fib level.
SEI is currently examining this zone. If it breaks through, the next base level level is $0.2691 near the lower edge of the wedge.
On the optimistic side, barrier level is identified at $0.2993 (0.618 Fib), $0.3096 (0.5 Fib), and $0.3203 (0.382 Fib). Martinez believes that reclaiming $0.2993 could pave the way for a surge towards $0.33, consistent with the 0.236 Fib retracement.
The dashed line on his chart suggests that SEI might retest price floor prior to ascending. If the price remains above the wedge upward movement, this would indicate increasing bullish momentum.
Traders are monitoring whether SEI can convert short-term resistance into price floor, which could enhance confidence in a recovery for September.
SEI is encountering near-term challenges at $0.285. Sustaining above this level could lead to a move towards the $0.31-$0.33 zone. If buyers affirm the upward movement, crypto market sentiment might improve.
The new integration may enhance transparency and trust across the platform. However, it remains uncertain if this will lead to a sustainable recovery in SEI price.
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Why Is Etherscan’s EVM Compatibility a Game-Changer for SEI Developers?
Etherscan currently supports thousands of DeFi protocols and wallets.
With Seiscan, Sei developers will have access to the same reliable infrastructure that sustains major projects across the crypto space.
Seiscan provides users with a deeper understanding of Sei’s on-chain activities. Users can verify coin holder records, validate smart contracts, and utilize visual tools to analyze data, making the protocol more transparent and easier to explore.
Developers working on Sei can now employ the same APIs that leading ecosystems depend on. This linkage allows them to connect with robust, reliable blockchain systems.
For developers familiar with Ethereum, the transition is more straightforward. Seiscan offers EVM compatibility, enabling the migration of existing tools while benefiting from Sei’s sub-second speeds.
These features are anticipated to enhance developers’ experiences and foster greater user trust. SEI has previously collaborated with MetaMask and Circle in earlier deployments.
The inclusion of Etherscan marks another step towards its ambition of becoming a settlement layer for Decentralized finance, institutional finance, and real-world assets.
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The post Etherscan Expands to SEI Crypto Amid High Demand: Will SEI Price Price surge in September? appeared first on 99Bitcoins.
