Triangle pattern nearing a break

SEI Analysis: Recent fakeout above triangle pattern followed by drop to support trendline. Resistance at $0.54. Critical decision point approaching as pattern nears breakout. Main support levels at $0.47 and $0.40.

6/10/20241 min read

SEI price analysis chart showing triangle pattern, resistance at $0.54, and support levels at $0.47
SEI price analysis chart showing triangle pattern, resistance at $0.54, and support levels at $0.47

SEI experienced a fakeout above the triangle and then instantly dropped back down. The price managed to hold at the support trendline, maintaining the integrity of the pattern. The resistance level is currently at the $0.54 area. The triangle is now approaching a critical decision point, and it's essential to monitor which direction the pattern will break. The main support levels to watch are $0.47 and $0.40.