0.0423 is what a long here is actually risking, and $SEI is sitting 6% above it after a rebound that finally cleared 0.0441. That clearance is the interesting part. The 1h trend is still bearish under the 200 EMA, but the sweep into 0.0423 got bought and the push through 0.0441 is a local bullish CHoCH. Price is in discount, open interest is building, so this looks like fresh longs stepping in rather than shorts covering. The level that matters above is 0.0462, the 200 EMA. It's the first real test of whether this is a bounce or a shift. A pullback that holds above 0.0441 keeps the bullish read alive; that's the confirmation. If 0.0423 gives way, the buyers who chased this rebound are trapped, and the sweep low becomes the exit they're all standing in. Target: 0.0513 Invalidation: 0.0423 Watch the reaction at 0.0462, whether a pullback holds 0.0441, and whether open interest keeps climbing on green candles. Does the 200 EMA reject this, or does 0.0441 hold as new support first?