Sei (SEI) price consolidation is nearing its end, which could soon result in a volatile breakout.
Sei price is consolidating in a descending triangle pattern. A breakout from this setup forecasts a 40% crash to $0.271. A swift flip of $0.560 hurdle into support will invalidate the bearish thesis. 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.
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. The Relative Strength Index has been struggling below the mean level of 50, suggesting that bulls are not banded together.
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