SEI | Waiting for a Higher Low

SEI/USDT is currently setting up for a potential higher low formation, but confirmation is still pending. The price action shows promise but requires patience for the setup to materialize.

Current Situation:
Price is testing the orange ascending trendline support around $0.21
Waiting for a confirmed bounce to establish the higher low
The projected path (pink arrow) outlines the anticipated bullish trajectory

Key Levels to Watch:
Critical Support: Orange trendline around $0.21 (must hold)
Confirmation Level: Clean bounce above $0.22-0.23
Target: $0.33 resistance zone if higher low confirms

What's Needed:
Strong rejection from current support levels
Volume increase on any bounce attempt
RSI showing bullish divergence signals

Risk Factors:
Break below orange trendline would invalidate the setup
Failure to establish higher low could lead to further downside
Market conditions may impact the pattern's success

This is a wait-and-see scenario where patience is key. The higher low formation will only be confirmed once price demonstrates clear rejection from support and begins moving higher.