This correction is healthy because it resets momentum after an impulsive move and clears out weak hands that entered late. Without these pauses, trends don’t sustain. What we’re seeing now is structure forming, not a loss of control.

$IR just triggered a long liquidation of $1.7384K at $0.16276, which tells me downside pressure peaked right into an area where buyers have already shown interest. Forced selling at these levels often hands liquidity directly to stronger participants.

I’m watching the $0.158 – $0.163 zone closely. This area previously acted as a solid support before price expanded higher, and it has produced clean reactions in the past. The current pullback also lines up with a healthy retracement of the last impulse leg, which adds confidence. Volume is thinning on the downside here — they’re building strength, not accelerating sell pressure.

If this level holds, the structure remains intact and continuation becomes likely.

Trade Setup

Entry Zone: $0.159 – $0.163

Target 1: $0.176

Target 2: $0.195

Stop Loss: $0.151

I’m watching for stability and small reclaim moves rather than a fast bounce. Liquidations like this usually mark the end of emotional selling. If this level holds, I expect IR to grind higher and retest the upper range with momentum building underneath.