$CLO did a full parabolic round-trip: base near $0.10, spike to $0.2947, then a 66% giveback down to $0.1007. That part's normal for these charts. What actually matters is what happens after the crash low, because that's where you find out if there was real demand or just a pump.
Since that low it's been ranging $0.115-0.117 on the floor, $0.135-0.139 on the ceiling. Two things inside that range are worth more than the range itself.
First, the wick up to $0.1395 got rejected on 4-5x average volume and reversed immediately. That's not noise, that's someone with real size defending that level. Until that supply gets absorbed, it's a wall, not just a number.
Second, volume inside the range has been shrinking. That usually means one of two things: quiet accumulation before a breakout, or fading interest that eventually breaks down instead of up. Shrinking volume on a failed breakout attempt leans toward the second.
Worth naming too: FDV sits at $123M against a $16M market cap, only ~13% of supply is even circulating. That's a real overhang, not a chart pattern, and it's probably part of why sellers keep showing up at the same zone.
So the logic, not a prediction: reclaim $0.139-0.145 on volume that actually holds and this opens back toward $0.19-0.24. Lose $0.100-0.116 on volume and the range has failed outright. Until either happens, fading the range beats guessing the breakout.
#onchain #RangeBound $CLO