The SEI/USDT chart on the daily timeframe presents a notable Inverse Head and Shoulders (IH&S) pattern, which appears to have completed successfully. The neckline breakout occurred with a strong bullish impulse, suggesting a potential trend reversal from the prior downtrend.
Following the breakout, price encountered a significant resistance zone between $0.275 - $0.295, which acted as a supply area and triggered a short-term pullback. This level aligns with a previous structural breakdown point, adding to its validity as a resistance.
A key demand zone (highlighted in green), located between $0.195 - $0.229, has been marked as the “Long Idea” zone. This area previously served as resistance and now has the potential to flip into strong support upon retest, offering a favorable long entry if price revisits the zone. The current price action suggests that this retest may occur, offering an opportunity to enter with a better risk/reward ratio.
The measured move target from the IH&S pattern points towards the $0.35 region, which also coincides with a major horizontal resistance zone and serves as the primary take profit (TP) target.
Following the breakout, price encountered a significant resistance zone between $0.275 - $0.295, which acted as a supply area and triggered a short-term pullback. This level aligns with a previous structural breakdown point, adding to its validity as a resistance.
A key demand zone (highlighted in green), located between $0.195 - $0.229, has been marked as the “Long Idea” zone. This area previously served as resistance and now has the potential to flip into strong support upon retest, offering a favorable long entry if price revisits the zone. The current price action suggests that this retest may occur, offering an opportunity to enter with a better risk/reward ratio.
The measured move target from the IH&S pattern points towards the $0.35 region, which also coincides with a major horizontal resistance zone and serves as the primary take profit (TP) target.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.