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Is this the start of a massive reversal or just another trap for late buyers?
$SEI finally showed some life after that long bleed down to the 0.048 support level. We just saw a huge green candle pump it up to 0.062, but now it’s starting to wick back down as people take profits.
Right now we’re at 0.060 and the volume on this move was actually pretty solid, which is a good sign. It looks like it wants to flip this area into a new floor.
If we can hold 0.058 on the retest, I can see us pushing back toward 0.066. But if this candle closes weak and we slip back into the 0.050s, then the pump was just a fakeout. Definitely one to watch closely today.
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