I'm entering a long trade at the critical support level of $0.4203, which has historically acted as a strong demand zone where buyers tend to step in. My stop loss is placed below this support at $0.4085 to minimize risk if the price breaks down further, while my take profit target is set at $0.4500 near the previous resistance zone, where selling pressure is likely to emerge. This setup offers a solid reward-to-risk ratio of approximately 2:1, making it a favorable trade based on the current market structure and the potential for a bullish bounce from this key level.
$SEI