Price is building a higher-low structure after the deep rejection from 0.86. Momentum remains constructive while buyers defend the 1.20 area. A clean break above 1.25 could trigger fresh liquidity and accelerate the move toward higher targets.
Price has extended sharply from the 0.11 demand zone, making the current area vulnerable to a liquidity sweep and pullback. The 0.239–0.246 resistance is the key ceiling; failure to reclaim it could trigger profit-taking. Watch 0.220 for the first confirmation of bearish momentum. If resistance breaks and holds, invalidate the short setup.