๐จ $SEI / USDT SHORT SETUP โ EXTENDED & OVERBOUGHT? ๐
$SEI has exploded over +11.5% in the last 24 hours, hitting a local high of 0.06962! However, key technical indicators suggest the rally is getting overextended and due for a cool-off or pull-back.
Key Technical Factors:
* Extremely Overbought RSI: The RSI(6) is currently sitting at a whopping 86.65, signalling heavily overbought conditions on the daily chart.
* Resistance Zone: Approaching psychological resistance near the 0.07000 mark following a vertical run-up.
* Distance from Moving Averages: Price is far extended above EMA(7) at 0.05976 and EMA(25) at 0.05167, making a mean-reversion move highly probable.
Trade Plan (Short Opportunity):
* Entry Zone: $0.06850 - $0.07000
* Target 1 (TP1): $0.06450
* Target 2 (TP2): $0.06000 (Near EMA 7 support)
* Target 3 (TP3): $0.05500
* Stop Loss (SL): $0.07250 (Above local highs)
โ ๏ธ Risk Management Notice: Always use strict stop losses and control your leverage! High volatility expected around resistance levels.
๐ Are you taking this short, or expecting another leg up? Drop your thoughts below! ๐
#SEI #CryptoTrading. #ShortSetup #TradingSignals๐น๐ฌ #BinanceSquare
$SEI has exploded over +11.5% in the last 24 hours, hitting a local high of 0.06962! However, key technical indicators suggest the rally is getting overextended and due for a cool-off or pull-back.
Key Technical Factors:
* Extremely Overbought RSI: The RSI(6) is currently sitting at a whopping 86.65, signalling heavily overbought conditions on the daily chart.
* Resistance Zone: Approaching psychological resistance near the 0.07000 mark following a vertical run-up.
* Distance from Moving Averages: Price is far extended above EMA(7) at 0.05976 and EMA(25) at 0.05167, making a mean-reversion move highly probable.
Trade Plan (Short Opportunity):
* Entry Zone: $0.06850 - $0.07000
* Target 1 (TP1): $0.06450
* Target 2 (TP2): $0.06000 (Near EMA 7 support)
* Target 3 (TP3): $0.05500
* Stop Loss (SL): $0.07250 (Above local highs)
โ ๏ธ Risk Management Notice: Always use strict stop losses and control your leverage! High volatility expected around resistance levels.
๐ Are you taking this short, or expecting another leg up? Drop your thoughts below! ๐
#SEI #CryptoTrading. #ShortSetup #TradingSignals๐น๐ฌ #BinanceSquare