SEI shows bullish reversal, targeting key resistance at $0.128 with potential for gains up to $0.136. Watch for price action.
SEI has recently shown signs of a bullish reversal, breaking key market structures and grabbing liquidity.
The price has been hovering around a key support level of $0.1169, which traders are closely monitoring.
If the price can hold this level, the asset could potentially push toward higher resistance targets. As the market sentiment shifts, SEI could be on the cusp of a significant price move in the coming days.
SEI Shows Bullish Reversal After Grabbing Liquidity
SEI’s price action has been showing a reversal pattern after successfully grabbing liquidity and breaking previous market structures.
The price has bounced back after hitting the $0.1169 low, which many consider a crucial support level. The recent price movement suggests that the buyers are actively defending this area, signaling strength.
By mitigating the liquidity pool twice, SEI appears to be setting up for further upside potential.
Traders are focusing on this low as the point to hold in order to maintain a bullish outlook. A successful break above the current resistance levels could pave the way for more gains in the short term.
Resistance Levels and Targets for SEI
SEI is approaching a critical resistance zone at $0.128, which has previously shown to be a strong hurdle.
This level is key, as a break above it could lead to further gains, with the next target set at $0.136.
Many traders are watching closely for how the price reacts to this resistance zone in the coming days.
If the price fails to break above $0.128, there might be a pullback, with traders reassessing their positions.
However, if SEI can sustain above this level, it could trigger a rally, driving the price toward the next key targets.
The ability to break through $0.128 would be seen as a strong signal for the asset’s next move.
Related Reading: SEI Rebounds from $0.117: Can It Push Toward $0.136? Here’s What to Watch
Caution and Risk Management for Altcoin Traders
As always with altcoins, caution is essential due to their volatility. While the setup for SEI looks promising, market conditions can change quickly.
A potential bearish trend in Bitcoin could influence altcoin movements, making risk management crucial for traders.
It is advisable for traders to use stop-loss orders to protect against unexpected price swings. Giving the stop-loss some breathing room can help avoid being stopped out due to minor fluctuations.
If Bitcoin shows bullish signs, SEI and other altcoins may continue their upward movement.
In the next few days, SEI price action will be key in determining its future direction. If it holds support at $0.1169 and breaks through $0.128, the asset could be poised for more gains.
However, market conditions remain unpredictable, so traders should remain cautious and flexible.
Source: https://www.livebitcoinnews.com/sei-to-test-key-resistance-at-0-128-ahead-of-potential-bullish-move/
