SEI · 1H · DOWNTREND

The structure here is clean and brutal — this is a sustained downtrend from ~0.0520 all the way down to current price around 0.04160, with no meaningful higher highs printed anywhere on this chart. The most recent price action from July 28 onward shows a sharp leg down from ~0.0460 to lows around 0.0400, followed by a dead-cat bounce that stalled and is now grinding sideways near 0.04160. Every rally attempt has been sold into. The news context for this ticker is irrelevant to this chart — the SEI/TetherUS pair on Binance is a crypto asset, and the headlines referenced belong to different entities entirely, so I'm trading this purely on structure.

I'm not looking to buy this. The trend is down, the bounces are weak, and price is sitting mid-range between the ~0.04000 recent low and the ~0.04300–0.04350 breakdown zone overhead. Mid-range long gives me poor R/R and no structural confirmation. I'm waiting for price to either reclaim 0.04300 with a close above it, or roll over and break below 0.04000 to confirm the next leg down.