$SEI The ongoing correction trend of the price has recently stabilized above $0.12. Therefore, the price movement has become sideways, forming a brief contradiction between new support and horizontal resistance at $0.145.
The four-hour chart analysis shows that this sideways trend has evolved into a classic bullish reversal pattern known as the inverted head and shoulders. This chart pattern consists of three troughs: the left shoulder, the head in the middle, and the right shoulder.
With today's price surge, the SEI price has broken through the neckline resistance below the bottom of $0.143, providing buyers with adequate support to drive further recovery.
The coin's price has also regained the four-hour exponential moving averages of 20, 50, and 100, reinforcing the market's bullish sentiment.
However, the fluctuations during the day may retest the trend line of the breakthrough and validate the stability of the price, providing a foundation for future increases. After the breakthrough, a growth of 14.5% may be achieved, reaching the level of $0.165.
