SEI is a project that I have a lot of interest in this bullrun. It boasts the fasted blockchain in the industry and a focus on trading. A v2 upgrade is also on the way, SEI v2 will become the first parallelized EVM blockchain. Staking incentives too with possible airdrops on the network.
SEI's price has increased 250% in the last month and the chart suggests a HTF ascending triangle pattern. Currently the price has been sideways for the majority of the year so far, however, a breakout above the local high with acceptance above would certainly suggest SEI is going higher. This would also be price discovery and therefore uncharted territory for the project. I would then look to take profits using the Fibonacci levels that are shown as TP (take profit).
The orange path line would be a continuation of current price action, the more chop we see then the rally might make some people nervous in the short term. I do believe the invalidation level is clear, if we fall below the ascending triangle and have acceptance under then price will search for a safer footing. I would suggest the FVG $0.35 would be the safest place to go long for a long term hold 12-18 months.
SEI's price has increased 250% in the last month and the chart suggests a HTF ascending triangle pattern. Currently the price has been sideways for the majority of the year so far, however, a breakout above the local high with acceptance above would certainly suggest SEI is going higher. This would also be price discovery and therefore uncharted territory for the project. I would then look to take profits using the Fibonacci levels that are shown as TP (take profit).
The orange path line would be a continuation of current price action, the more chop we see then the rally might make some people nervous in the short term. I do believe the invalidation level is clear, if we fall below the ascending triangle and have acceptance under then price will search for a safer footing. I would suggest the FVG $0.35 would be the safest place to go long for a long term hold 12-18 months.
Comment:
SEI has now completely filled the flash crash wick of Jan 3rd, we could see a relief rally soon but it looks like the overall trend is bearish in the short term. Looking for strength in BTC also if the market is to react off these lows.
Comment:
We've now seen a reaction off the lows of 0.565 area, back above the 4h 200ema also.
I would like to see BTC flip 40.2K with acceptance, I think that is key for the altcoin markets trend direction.
Failing that and we get continuation to the downside 33K is my target for BTC and therefore the closer we can get to the SEI FVG the better for long term HODL zone.
I would like to see BTC flip 40.2K with acceptance, I think that is key for the altcoin markets trend direction.
Failing that and we get continuation to the downside 33K is my target for BTC and therefore the closer we can get to the SEI FVG the better for long term HODL zone.
Should the retest be bearish and BTC continues to bleed I think we could be targeting that FVG area.