Sei price consolidation forecasts 40% crash as crypto market flips bearish.Sei
Sei (SEI) price consolidation is nearing its end, which could soon result in a volatile breakout. SEI investors need to be cautious, as the crypto market outlook is looking bleak.SEI price action between April 16 and June 8, created five lower highs and three equal highs. Connecting these swing points using trend lines shows the formation of a descending triangle setup. This bearish pattern forecasts a 42% crash, obtained by adding the distance between the first swing high and swing low to the breakout point of $0.467.
The forecasted target sits at the lower limit of the weekly imbalance, extending from $0.350 to $0.265. The confluence of the theoretical target coupled with the weekly imbalance makes it a good level for accumulation.
