SEI Technical Analysis Feb 24

SEI is approaching critical supports at the 0.07$ level and is under pressure from the downward trend. 0.0645$ is positioned as the last line of defense as a strong buyer zone; a breakdown could accelerate the downward momentum.

Current Price Position and Critical Levels

SEI is trading in a narrow range ($0.06 – $0.07) at the current price of 0.07$ with a 24-hour drop of %0.30. The overall trend is downward, with the price remaining below EMA20 (0.08$) and the Supertrend indicator giving a bearish signal. Although RSI at 27.91 indicates the oversold region, volume is limited at 53.99M$ and momentum is weak. 7 strong levels were identified across multiple timeframes (1D/3D/1W): 1 support/1 resistance on 1D, 2 supports on 3D, 2 supports/3 resistance confluence on 1W. This structure suggests we should expect a reaction at these levels before any liquidity hunt. Historically, such squeezes during SEI’s low volatility periods pave the way for major breakouts.

Support Levels: Buyer Zones

Primary Support

0.0645$ (Strength Score: 83/100) – This level stands out as the most critical buyer zone. Reasons: Strong confluence in 3D and 1W timeframes (one of 2 supports on 3D, coincides with swing low on 1W), tested and rejected 3 times in the past (high-volume wick formation on the last test), exhibits demand block (order block) characteristics. Volume profile shows positive delta, meaning buyers entered aggressively here. As price approaches this zone, liquidity collection potential is high; ideal spot for stop-loss hunting. A breakdown triggers accelerated downside and moves to the next target.

Secondary Support and Stop Levels

Secondary supports include 0.06$ (24-hour low, short-term demand zone) and deeper downside target of 0.0387$ (confluence with 1W Fibonacci extension %161.8). 0.06$ represents the recent range bottom and may provide temporary relief due to observed volume increase. However, invalidation is a close below 0.0645$ (e.g., daily candle below 0.0635$); in this case, stop-losses trigger and a fluid drop to 0.0387$ is expected. These secondary levels are essential for risk management: For a bounce from 0.0645$, long invalidation should be below 0.0600$.

Resistance Levels: Seller Zones

Near-Term Resistances

0.0659$ (Strength Score: 62/100) – Near-term first obstacle, resistance confluence on 1D timeframe (recent rejection point). Why important: Proximity to EMA20 (approach to 0.08$), increased selling pressure in volume, and wick rejection history (failed breakout on 2 tests). Even if price reaches here, combined with Supertrend resistance, sell-side liquidity kicks in. Daily close required for breakout, otherwise high fakeout risk.

Main Resistance and Targets

Main resistance concentrates in the 0.08$ region: Composed of EMA20, Supertrend, and 1W resistances (3 confluences). This level is a supply block from monthly highs; rejected with strong selling volume on 4 tests. Upside target 0.0869$ (score 25/100), coincides with Fibonacci %50 retracement but low probability (in bearish trend). Major invalidation requires weekly close above 0.08$; if not, resistances strengthen sellers’ hand. R/R ratio between targets is approximately 1:2 (from 0.0645$ to 0.0869$), but cautious approach essential in low volatility.

Liquidity Map and Big Players

Big players (smart money) may be collecting liquidity below the 0.0645$ support; ideal for stop hunting (long positions’ stop-losses). Above, 0.0659$-0.08$ is a sell-side liquidity pool: Broken short stops and breakout hunters. Order blocks map as bullish (demand) at 0.0645$, bearish (supply) at 0.08$. Volume analysis shows positive delta spikes at 0.0645$, meaning institutions are buying here. Price action won’t make a big move without sweeping this liquidity; in downtrend, lower liquidity (0.0387$) is the priority target.

Bitcoin Correlation

BTC is maintaining its downtrend with a %0.56 drop at 64,123$ level; Supertrend bearish. Altcoins like SEI are highly correlated to BTC (%0.85+); if BTC breaks 62,840$ and 60,253$ supports, SEI’s test of 0.0645$ accelerates. If BTC surpasses resistances (64,323$, 67,753$), SEI upside to 0.08$ opens, but rising dominance crushes alts. Key BTC levels to watch: Below 62,840$ – red alert for SEI, above 64,323$ – temporary relief. BTC context critical for SEI Spot Analysis and SEI Futures Analysis.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above 0.0645$ – short-term bounce to 0.0659$/0.08$ (risk/reward focused, wait for RSI divergence). Below breakdown – short bias to 0.06$/0.0387$, invalidation above 0.0659$. For longs, 0.0659$ breakout + volume confirmation required, target 0.0869$. This strategy is based on price action rejections; lack of news limits volatility but MTF confluence takes precedence. Risk management: 1-2% of positions, tight stops per level. Market is dynamic, follow updates.