according to materials from the site - CryptoFrontNews
SEI finished the day at $0.3111, down 4.77% after reaching $0.3442 and failing to hold above it. This rebound halts the recent momentum and shifts short-term attention to lower support levels within the bullish structure.
The chart shows how SEI is retracing into the demand zone near $0.29, where key Fibonacci levels and support/resistance intersect. This area has structural significance and marks a potential reload zone if buyers re-enter the market.
Swing high broken, Fibonacci in focus
SEI turned back from the $0.3442 level and could not close above it. Within the correction zone, the 0.618 level is at $0.2968, the 0.65 level is at $0.2776, and the 0.786 level is at $0.2577. All these Fibonacci points are within the area of the previous breakout tested at the end of June.
Given this behavior, the price is currently compressing within a structure that offers potential support for further growth. This reaction zone serves as a pivot point that either confirms demand or allows for a deeper correction to the invalidation line. Holding in this area keeps SEI in the bullish zone.
SEI is still within a bullish continuation
ChiefraT's analysis shows that SEI remains in an active bullish structure despite the latest rebound candle. He believes that volume has decreased as the price approaches resistance, which is a typical setup before resuming breakout attempts. The structure remains relevant as long as SEI holds above $0.2577.