$SWELL caught a massive bid, shooting straight up out of nowhere before hitting a wall. The price is pulling back now from that giant wick as people rush to take profits. Right now, it's searching for a spot to settle after that crazy moves.
The chart shows a clear support zone waiting down between $0.00140 – $0.00145. This area is a big deal because it's the exact launchpad where all the breakout volume flooded in. Bulls need to step up here to keep the structure from breaking.
The plan is simple. If the market taps this $0.00140 – $0.00145 floor and holds, it sets up a logical spot for a nice relief bounce. But if it breaks straight through, the entire pump gets completely wiped out.
While that massive green candle looked great, chasing a vertical move like this is risky. Sellers are forcing a pullback right now, so it's best to stay patient. Wait for a solid higher low to form in the demand zone before looking for a move.