- SEI completed the Adam & Eve pattern, indicating potential upward momentum.
- SEI stabilized above the 0.236 Fibonacci level, showcasing strong investor confidence.
- A breakout from the accumulation phase could lead to significant price rallies.
Sei (SEI) spent 287 days building momentum. Now, after crossing out of the Adam & Eve formation, this altcoin shows signs of life. Additionally, SEI has secured a key position above the 0.236 Fibonacci level. This has investors eager to see if SEI will finally break out of a long period of accumulation and deliver an explosive move.
#SEI/USDT $SEI spent 287 Days of accumulating inside of big bullish flag🧐
Currently crossed out of Adam & Eve (local accumulation) and fixed above 0.236 fib level💁♂️
Now I am looking for break out of the bigger accumulation🚀
🎯Mid-Term Target – 0.9040$
🎯Long-Term Target… pic.twitter.com/VZrY2z9iyE— Alex Clay (@cryptclay) October 8, 2024
Understanding the Adam & Eve Pattern
The Adam & Eve pattern forms when two bottoms appear on a chart. The first bottom, Adam, is sharp and narrow, while the second, Eve, is rounder and broader.
This chart formation often signals accumulation and suggests an upward trend could follow.According to Alex Clay, SEI recently completed this pattern. A completed Adam & Eve pattern usually indicates a shift in momentum.
Crucial Technical Levels to Watch
Alex Clay notes that SEI has stabilized above the 0.236 Fibonacci retracement level, which is considered a key support and shows that investors are holding firm. Breaking this level could lead to stronger moves.
The next challenge, according to Clay, lies in breaking out of SEI’s larger accumulation phase. The coin remains within a bullish flag pattern, a structure that often signals an impending breakout. Clearing this resistance could spark the next major rally.
While no one can say for sure, Alex Clay believes SEI looks ready for a bigger move. The completed Adam & Eve pattern and the bullish flag indicate growing strength. If SEI breaks out of the accumulation zone, the price might rally higher.
For now, SEI appears to be gearing for a breakout, with technical indicators suggesting strong upward momentum. However, investors should watch closely for a confirmation of an upward move beyond the accumulation zone.