$SEI #SEI/USDT sharp decline
resistance levels:
1) immediate: 0.2017 (middle bollinger band)
2) strong: 0.2138 (upper bollinger band)
3) major: 0.2253 (24h high)
support zone: 0.1896 - 0.1913 (lower bollinger band & 24h low)
technical indicators:
- rsi(6): 37.73 (approaching oversold but no divergence)
- macd: bearish momentum (-0.0005)
- price below all key moving averages
- volume ma(5) > ma(10) suggests selling pressure
chart patterns:
lower highs and lower lows forming
failed breakout above 0.2253
currently testing yearly lows
trading considerations:
1) potential bounce at 0.1896 support
2) any rally likely to face resistance at 0.2017
3) break below 0.1896 could accelerate declines
risk management:
- avoid catching falling knife
- wait for confirmation of reversal
- tight stop-losses essential
monitor for:
- volume spikes at support
- rsi divergence development
- macd crossover signals