币界网报道：Over the past six months, Sei [SEI] has recorded significant network expansion. In fact, active addresses have increased from 250,000 to 600,000, with daily transactions exceeding 1.6 million. This strong and sustained growth gives a sense of rising user engagement and sustained utility, which may reflect increased developer traction or successful dApp deployments on the network. However, despite strong on-chain momentum, SEI is trading at $0.279, down 1.15% on the day, with bulls struggling to consolidate recent gains. Can SEI bulls finally break through the stubborn resistance wall? Even after a clean rebound from the $0.25 support, SEI has remained stalled around the $0.29–$0.30 resistance band. This resistance has served as a key supply zone since February, rejecting multiple bullish attempts. While the price recently broke out of the range, it has yet to convincingly close above it. If the breakout is confirmed, it will pave the way for a move towards $0.337, while a rejection could force another test of $0.254. Therefore, bulls must maintain pressure at current levels to keep momentum going. Why is everyone suddenly talking about SEI? SEI’s social dominance surged sharply, reaching a high of 0.59% before retreating to around 0.25%. The rise in social media mentions reflects increased attention from traders and increased speculative interest. Historically, such spikes often coincide with strong market moves. However, without support from new buyers or development milestones, such surges can quickly fade. What does this reveal about market sentiment? Even with the SEI recovery, Funding Rates across major exchanges remain negative at around -0.02%. This suggests a bearish bias in the market, with more traders betting on the downside. Interestingly, this tilt opens the door for a short squeeze if bulls hold key levels. So, while cautious sentiment dominates the derivatives space, the setup for a surprise upside move remains intact. Too many bears, too little conviction? As of July 2, the open interest-weighted Funding Rate was -0.0129%, highlighting that leveraged traders remain bearishly biased. Even as prices rebounded from support and network metrics improved, the lack of bullish sentiment in the derivatives market suggests distrust of the current rally. However, this sentiment mismatch often leads to violent volatility when traders are caught off guard. Therefore, if spot demand continues to grow, SEI could surprise higher. Can Sei turn growing network strength into a price breakout? The massive growth in Sei active users and transactions suggests that network fundamentals are improving rapidly. However, prices remain stalled below a key resistance zone as traders remain hesitant. If Sei manages to flip this resistance into support while market sentiment remains skeptical, it could spark a strong rally driven by short squeezes and retail momentum. Until then, all eyes remain on the $0.29–$0.30 level for confirmation.