SEI market watch: Long-to-short ratios indicate bullish sentiment, but… – BitRss – Crypto World News

• The price has tested the bottom of its ascending channel, a potential indicator of an upward move. 
• However liquidity movement within SEI’s blockchain and to exchanges, tells a decline could be near.

Sei [SEI] has seen a steady decline from a major resistance zone, leading to a 9.48% drop over the past month. In the last 24 hours, the asset has fallen further, losing 5.95%.

Market trends remain inconclusive, leaving traders to weigh key technical levels and metrics for clearer direction which AMBCrypto has identified.

An upward path emerges

On the chart, SEI has retreated to the lower boundary of its ascending channel, otherwise known as support, after experiencing a sharp rejection at the channel’s resistance level.

From this support level, the asset’s likely move, based on technical patterns, would be an upward trend, potentially targeting $0.65.