SEI · 1H · UPTREND
Price launched from 0.0385 lows around August 20 and ran clean to 0.0510 before pulling back to where it sits now at 0.04748 — that's a near-vertical move in under two days, roughly 32% off the base. The structure is still bullish: the move printed a clear higher low formation off the extended downtrend that ground from late July through mid-August, and this spike is the first genuine momentum break of that structure. What I'm watching now is whether this pullback is a time correction — price compressing near the highs while MAs catch up — or the beginning of a deeper retracement. Right now, price is holding above the 0.0453 area which was former resistance that got blown through on the initial spike. That level matters. I'm not chasing the spike, but I'm not short either — the move has momentum evidence behind it and the structure is unambiguously bullish on this timeframe.
LONG SCENARIO
Confirmation
0.0453
Holding above 0.0453 and closing above 0.0482 confirms bullish continuation — that reclaims the mid-spike consolidation zone and clears the nearest liquidation cluster above.
Invalidation
0.0422
Structure invalidated below 0.0422 — that's the dense liquidation cluster below price; a sweep and close beneath it means the pullback is a full retracement, not a consolidation.
Target 1
0.0510
The prior spike high; dense liquidation cluster at 0.0520 sits just above, making this a natural first objective where momentum typically stalls.
Target 2
0.0520
The liquidation cluster itself; if 0.0510 breaks with volume, that cluster becomes the magnet.
Risk/Reward
(0.0510 − 0.0482) / (0.0482 − 0.0422) = 0.0028 / 0.0060 ≈ 0.5:1 from confirmation — tight, so I'm sizing accordingly and only entering on a confirmed close above 0.0482, not before
Resistance: 0.0482 / 0.0510–0.0520
Support: 0.0453 / 0.0422
This is not financial advice. Content is AI-generated.