SEI, the native asset of the Sei layer-1 blockchain, climbed more than 30% in 24 hours after asset manager Canary Capital submitted a second amendment to the registration statement for its proposed Staked SEI exchange-traded fund (ETF) in the United States. Data showed SEI trading at $0.06294 at the time of writing, up more than 33% over the past day, with its market capitalization near $462 million. Trading activity also accelerated, with 24-hour volume increasing by more than 200% across major exchanges.

The amended filing adds a fresh market catalyst just as technical indicators track a sharp short-term recovery in the token, which has moved well away from the lower support zone that formed during its latest decline.

Technical Picture: $0.07710 Emerges as the First Upside Test

The daily technical structure places the nearest support around $0.04, while the Fibonacci setup marks $0.04504 as another level near the recent rebound area. Holding above this zone keeps the current recovery structure intact and gives buyers room to test higher levels.

The first major upside level sits near $0.07710, a zone that aligns with the 23.6% Fibonacci retracement and the first wave-four target on the chart. A move through that level would open the next technical zones at $0.11888, $0.16689, and $0.23938. On the downside, a break below the broader $0.04 support area would shift attention toward $0.03507, followed by $0.02320.

Shorter-term indicators also point to strong momentum. SEI trades above the hourly 20-period moving average at $0.0522 and the 50-period average at $0.0501. The altcoin also sits above the daily 200-period moving average at $0.0534, while the daily Ichimoku Kijun stands near $0.0525, adding another technical level beneath the market.

Momentum readings show the rally has pushed several indicators into stretched territory. The relative strength index (RSI) reached 81.7, while the Stochastic RSI and the Commodity Channel Index (CCI) also moved into overbought ranges. MACD and ADX continued to signal strong buying momentum, meaning the market now combines firm trend strength with a higher risk of short-term profit-taking.

Canary Capital Revises Staked SEI ETF Filing

Canary Capital filed a second amendment to the registration statement for its proposed Staked SEI ETF. Amendments of this kind are a standard step in the U.S. registration process, giving issuers a way to refine fund details while a proposal remains under regulatory review. Canary is among the asset managers that have sought U.S. ETFs tied to altcoins, a category that has expanded well beyond the early bitcoin and ether products. The updated filing outlines a structure that would hold spot SEI and stake roughly 90% of those tokens, with BitGo serving as the fund's exclusive custodian under the proposed arrangement. The fund also seeks a listing on the Cboe BZX Exchange.

The staking design would enable the product to earn staking rewards on most of its SEI holdings while custody remains with BitGo. Staking is the process by which token holders commit assets to help operate a proof-of-stake network and receive rewards in return, the mechanism through which the fund's holdings would generate those rewards. The filing does not itself represent final approval, and the proposal still depends on the U.S. regulatory review process, where further amendments or a decision on the application would mark the next updates for the product. The amendment gives investors more detail on how the fund would handle custody and staking if regulators allow the product to launch.

The filing focuses on a spot-backed structure rather than direct exposure through derivatives. That setup ties the proposed fund's assets to SEI held in custody, while the staking component would place most of those holdings into the network's staking system.

Near-Term Trading Range Keeps $0.0603 in Focus

Near-term technical levels place $0.0543 as an important support area and $0.0603 as the next immediate resistance zone, and the projected two- to three-day trading range lies between them. A sustained push above $0.0603 would place the market closer to the larger $0.07710 technical target.

A pullback below $0.0543, meanwhile, would weaken the short-term structure and bring the moving-average cluster back into focus, starting with the $0.0534 daily 200-period average and the $0.0525 Ichimoku Kijun.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and past performance does not guarantee future results. Readers should conduct their own research before making investment decisions.