World Liberty Financial has triggered a short-lived surge in SEI price after purchasing $775K worth of the token, briefly lifting it 20% before momentum stalled at key resistance.

According to blockchain analytics firm Arkham Intelligence, World Liberty Financial (WLFI) has acquired 4.89 million Sei (SEI) tokens worth $775K. The purchase was made on April 12 by a WLFI trading wallet, funded with USD Coin (USDC) from the project’s main wallet.

With this purchase, SEI joins a growing list of altcoins WLFI currently holds in its portfolio, including Bitcoin (BTC), Ethereum (ETH), Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX), Ethena (ENA), Movement (MOVE), Chainlink (LINK), Wrapped Bitcoin (WBTC).

According to Lookonchain, WLFI has invested a total of $346.8 million across 11 tokens.

In response, SEI price surged by 20% by the day’s close, opening at $0.15 and closing at $0.18, its highest price since 29 March.

However, the daily chart shows clear and extended downtrend that began in early December last year. From that point, SEI consistently made lower highs and lower lows, with each rally being weaker than the last. Throughout this period, SEI has remained below the 20-day Exponential Moving Average, with every attempt to break above it being short-lived.

Currently, SEI price is hovering just above a horizontal support level around $0.17, trading at $0.1773 at press time. This level has seen multiple interactions recently, suggesting it’s a meaningful zone where buyers are stepping in to halt further declines, at least temporarily. Plus, with breaking above $0.18 on the WLFI purchase news, the price has now climbed above the 20-day EMA, although it remains to be seen whether this will hold. If the $0.17 support breaks, the next level to watch is $0.15.