- SEI price trades at $0.3227, near the 0.5 Fib retracement, within a tightening symmetrical triangle.
- A confirmed breakout above $0.3355 could target $0.3901, $0.4343, and $0.4979 on Fibonacci extensions.
- Ali notes SEI is in a buy zone, preparing for a 54% bullish breakout toward $0.498.
SEI price is displaying robust consolidation on a symmetrical triangle where price is drifting around major Fibonacci levels. The volatility is narrowing its range and momentum is gaining momentum, and this is a sign of the potential breakout. An aggressive thrust past resistance may result in a soaring upswing toward the $0.498 target, a 54% increase. SEI is an instrument that is set to make a clear move in the weeks ahead with clear levels of support below and Fibonacci extensions above.
SEI Price Gears Up for 54% Breakout as Symmetrical Triangle Nears Apex
The SEI price chart indicates a textbook symmetrical triangle shape, which indicates the existence of a phase of consolidation followed by a decisive breakout. SEI has been recording lower highs and higher lows since July, squeezing price action into such a narrowing pattern.
SEI price is currently trading at around $0.3227 which is close to the 0.5 Fibonacci retracement point ( $0.3202 ) and is a major pivot point, which is used to determine the direction of market movement.
Ali Chart SEI says it is a buy zone with a 54% bullish breakout on its way to $0.498! This is in line with the Fibonacci targets of extensions of the chart. The upper triple boundary and confirmation above the upper triangle boundary and above 0.3355 ( 0.618 Fib ) would mean more levels to go.
The watch resistance levels are set at 0.3450, 0.3901 (1.0 Fib), $0.4343 (1.272 Fib), and the bullish target is set at $0.4979 (1.618 Fib)- a 54% move relative to the current levels.
The negative aspect is that the critical support is the $0.3050 (0.382 Fib) level. Any break below it would shift the momentum to bearish, revealing $0.2885 (0.236 Fib) and possibly, $0.2628. But as long as SEI continues to have high lows in the triangle, the bullish set up still holds.
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