The recent breakout above a key resistance zone, which had acted as a cap on price during the previous consolidation, confirms the newfound strength in the bullish trend. This breakout is significant because it not only breaks the prior structure but also suggests a potential continuation of the upward movement. The market is now in a bullish phase, with higher highs and higher lows being formed.
Given the current price action and structure, the market could continue its bullish trajectory, with the next targets potentially being the previous highs around the 0.45 to 0.50 range. However, if the market retraces, it may look to retest previous levels of support, potentially around the 0.35 or 0.30 zones, before continuing its upward momentum.
In conclusion, the SEI/USDT chart suggests a bullish bias in the short to medium term, with strong momentum pushing the price higher after breaking key resistance levels
Recently, CELO has surpassed major players like Base, Polygon, and Solana in the number of daily active wallet addresses. The amount of stablecoins flowing into CELO has continuously increased over the past year, especially as Tether recently pre-minted $200 million on CELO, indicating significant future demand. The whale group has been actively accumulating CELO throughout Q2, which is an extremely bullish signal. They are still holding tightly and showing no signs of selling. Will this hot asset make a comeback? đ§đ§ Itâs expected that CELO will launch L2 by the end of this year
The breakout above the previous high levels, particularly around the 1.6 USDT mark, further strengthens the case for continued bullish momentum. The market seems to have left behind its lower consolidation zones, with the grey demand zone around 1.0 to 1.2 USDT representing a key area where buyers previously stepped in. The clean break of structure indicates that the market is likely to continue upward.
In the short term, we may expect some retracement or consolidation, but the overall momentum suggests a continuation of the bullish trend. Prices have moved decisively beyond previous resistance, and as long as there is no significant rejection at current levels, the bullish scenario looks likely to extend further.
#BinanceLaunchpoolHMSTR #CATIonBinance #BTCReboundsAfterFOMC #NeiroOnBinance #TerraformLabsBankruptcy