Sei Network, a layer-1 blockchain built around trading use cases, is pressing forward with its Giga upgrade, reporting progress on SIP-3, Eidos, and Ares while designating the Autobahn mainnet as the next major milestone. Development momentum, however, has yet to lift the SEI price, where weakening technical signals and shrinking derivatives activity are keeping traders cautious about the token's near-term direction.

At the time of writing, SEI was changing hands at $0.06179, down 0.88% over the past 24 hours, according to a TradingView chart.

Sei Outlines Next Steps in Giga Upgrade

Sei Network's newest development update detailed movement on three components of the Giga upgrade — SIP-3, Eidos, and Ares — and identified the Autobahn mainnet as the next key milestone. No specific launch date for that phase was included in the announcement.

"SIP-3 lands shortly: one EVM surface for an optimized trading experience," the update stated. It added that Eidos and Ares are on track, and it described the Autobahn mainnet as the most critical part of Giga.

Here's your Sei Giga update, and what it means for traders. SIP-3 lands shortly: one EVM surface for an optimized trading experience. Eidos and Ares are on track, building capacity for heavy trading throughput. Next: Autobahn mainnet, the most critical part of Giga. pic.twitter.com/s5H9iD0q2k

— Sei (@SeiNetwork) October 15, 2026

According to the project, the upgrade is intended to strengthen Sei's execution capabilities and overall network performance, supporting high-throughput trading applications while creating a more efficient environment for developers and users. SIP-3 is set to consolidate activity onto a single EVM surface geared toward an optimized trading experience, while Eidos and Ares are being built out to handle heavy trading throughput. For a network that positions itself around trading workloads, execution-layer performance is the central product, which is why the Autobahn mainnet stands out as the phase on which the upgrade's stated goals will likely be judged.

If the network delivers performance gains and draws in more applications, market sentiment could improve. Still, upgrade progress by itself does not guarantee that demand for SEI will rise. Traders will likely want to see proof that these technical gains are translating into stronger ecosystem activity.

SEI Price Trades Below Middle Bollinger Band

On the chart, SEI's $0.06179 price sits below the middle Bollinger Band at $0.06989 — a moving average that chart readers commonly treat as a trend reference — underscoring the selling pressure that built up after the token's late-September rally toward $0.08. The lower Bollinger Band stands at $0.06052, making the $0.0605 area the immediate support reference, with the broader $0.060–$0.061 zone the key area to watch. If the price breaks below this area and fails to recover, SEI could face additional declines.

To the upside, the token first meets resistance around $0.067, with the middle Bollinger Band near $0.06989 beyond it.

Momentum indicators point in the same direction. The Relative Strength Index (RSI), a momentum oscillator, reads 45.85, below the neutral 50 mark and beneath its signal average of 56.50, signaling fading bullish momentum. Even so, the RSI has not yet reached oversold levels, so a rebound remains possible should buying pressure pick up again.

Derivatives Traders Turn More Cautious

CoinGlass data shows SEI open interest — the total value of active derivatives contracts — dropping from roughly $120 million in early October to about $75–80 million by October 15. The decline signals that outstanding derivatives positions have contracted amid the recent pullback.

The drop may indicate that traders are reducing their exposure, although falling open interest does not reveal whether long or short positions account for the decrease. Open interest by itself cannot show whether the market leans mostly bullish or bearish.

Trading volume has likewise cooled from the large spikes seen during the late-September rally. The quieter activity may suggest traders are holding off for a clearer catalyst before opening new positions.

DeFi Activity Has Yet to Back the Upgrade Narrative

DeFiLlama figures indicate that Sei's total value locked (TVL) — the capital deposited across the chain's decentralized applications — has declined from about $40 million in late September to roughly $28 million by October 15. The same dashboard tracks DEX volume, active addresses, and transactions, all of which moved unevenly across the period.

The available data does not yet establish sustained growth in network usage alongside the upgrade progress. Stronger DeFi participation would help show that network improvements are feeding into deeper ecosystem engagement. However, TVL and transaction activity alone cannot establish whether the Giga upgrade is responsible for any change in network usage.

What Lies Ahead for SEI

SEI's near-term direction hinges on whether buyers can hold support around $0.0605 and drive the token back above $0.067. A breakout could shift attention to $0.06989, whereas a prolonged drop below $0.0605 would undermine the short-term technical picture. In the absence of a clear catalyst, the $0.0605–$0.0699 band frames the token's immediate technical range.

At the same time, traders will keep watching for further Giga updates, especially movement toward the Autobahn mainnet, for which no launch date was given. What matters most is whether Sei can translate its technical advances into greater network activity and stronger demand for SEI — a question that the same metrics tracked above, from open interest to TVL and active addresses, will help answer as the rollout continues.

Disclaimer: This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Source: Tron Weekly — SEI Price Eyes $0.06 Recovery As Giga Upgrade Advances