$SEI coin
Twitter account: bitbull112
Coin name: SEI
Long
Price: .4034
(Enter on entry price)
The chart shows a falling wedge pattern for SEI/USDT, which is generally considered a bullish reversal pattern. Here’s a breakdown of the key elements:
1. Falling Wedge Structure:
• The price is moving within two downward-sloping trendlines that converge over time.
• Volume typically decreases as the wedge narrows, indicating a potential breakout is approaching.
2. Potential Breakout:
• The breakout is expected to occur when the price moves above the upper trendline with increased volume.
• The target for the breakout is calculated by measuring the height of the wedge (difference between the highest and lowest points) and projecting it upward from the breakout point.
3. Current Scenario:
• The price has bounced off the lower trendline and is moving toward the upper trendline.
• If the breakout happens above the resistance (upper trendline), the price is likely to rise toward the green target zone, around $0.4761.
• However, if the breakout fails and the price drops below the lower trendline, it might hit the red support zone near $0.3826.
4. RSI Indicator:
• The RSI is currently around 42.70, indicating a slightly oversold condition, which could favor a bullish breakout.
• If RSI moves toward overbought levels during a breakout, it could confirm upward momentum.
In conclusion, watch for a breakout above the upper trendline for confirmation of a bullish move. Otherwise, be cautious of a downside breakdown.
10x leverage isolated
Sl: .3826
Target:
1) .4240
2) .4342
3) .4445
4) .4550
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