The SEI Network is a Cosmos-based Layer 1 blockchain that specializes in trading infrastructure for decentralized exchanges and marketplaces. SEI accelerates blockchain efficiency and block finality, reducing it to a mere 380 milliseconds through the twin-turbo consensus mechanism.
Anyway, it is clear that SEI has potential. Besides the beginning in which SEI was in a descending triangular shaped pattern, SEI went up pretty well—almost 1000%. Then correction started that seems unfolding in an inverted wedge pattern. SEI broke both the minor downtrend line going toward the wedge's middle line (blue). If SEI can break this line, reaching the wedge's upper line is possible. Let's see what happens.
Anyway, it is clear that SEI has potential. Besides the beginning in which SEI was in a descending triangular shaped pattern, SEI went up pretty well—almost 1000%. Then correction started that seems unfolding in an inverted wedge pattern. SEI broke both the minor downtrend line going toward the wedge's middle line (blue). If SEI can break this line, reaching the wedge's upper line is possible. Let's see what happens.
Note
So, as it turned out, SEI was moving in a descending channel, and it seems correction ended at 0.618 Fib retracement level. Then, SEI broke the channel upward and is going up. Let's see what happens.
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So, SEI went up and broke the minor horizontal resistance area. Let's see how high SEI can go.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.