Analysis:
Trend: On the 4-hour timeframe, SEI is exhibiting signs of a potential bullish reversal after a prolonged downtrend. The price is currently breaking out of a descending channel structure, indicating a shift in momentum. The recent upward move from the key demand zone was supported by a notable increase in volume, suggesting strong buying pressure.
Levels:
Key support is established at the demand zone around 0.1265, a level that has held firm on multiple tests. The immediate challenge for buyers is the supply zone at 0.1429. A decisive break of this level would open the path towards the next significant area of supply near 0.1568.
Trigger:
The primary bullish trigger for a long position is a confirmed 4-hour candle close above the 0.1429 resistance. This event would serve as confirmation of the breakout and signal potential for further upward movement.
Setup:
This is a prospective long breakout trade.
Entry: Look for an entry upon a 4H close above 0.1430.
TP: 0.1560.
SL: 0.1340.
