$SPELL is currently trading around 0.0002278, showing active price interaction after a sharp intraday move. Over the last 24 hours, the price briefly pushed higher and then pulled back, suggesting short-term volatility with structure forming.
After a strong impulsive candle followed by a controlled retracement, the market appears to be consolidating above the recent low near 0.0002242. This behavior often signals absorption rather than weakness. On the 1H timeframe, bullish attempts are visible, indicating that buyers are still defending key levels and momentum is rebuilding.
If price holds above the current range and reclaims the short-term resistance with volume, SPELL could attempt another upside expansion.
Trade Setup
• Entry Zone: 0.0002260 – 0.0002290
• Target 1: 0.0002350
• Target 2: 0.0002450
• Target 3: 0.0002550
• Stop Loss: 0.0002220
A confirmed breakout above 0.0002350 with strong volume would shift market control back to buyers and could open the path toward higher resistance levels. Failure to hold the support zone would invalidate the setup and signal caution.
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