here is a brief technical analysis:
Technical Analysis (4H Chart)
Trend: The price is currently in a short-term bearish correction, trading at 0.0525. It has failed to sustain the highs near 0.0572 and is making lower highs.
Support & Resistance:
Immediate Support: 0.0518 – 0.0520. A break below this could see a slide toward the recent low of 0.0484.
Immediate Resistance: 0.0540 – 0.0550. The price needs to reclaim 0.0550 to regain bullish momentum.
Indicators: The Volume is declining on this downward move, suggesting the selling pressure is weakening but hasn't fully reversed. The Moving Averages (MA5/MA10) are currently acting as dynamic resistance above the price.
Expected Next Movements
Bearish Scenario: If the price fails to hold 0.0520, expect a sweep of liquidity down to the 0.0499 – 0.0505 zone.
Bullish Scenario: A bounce from current levels followed by a 4H candle close above 0.0540 would signal a move back toward 0.0570.
Fundamental Context: Note that SEI is currently undergoing its Giga Upgrade/EVM Migration (April 6–8), which often leads to "sell the news" volatility before a potential long-term trend shift.
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