After the sharp impulse and quick rejection from the highs, price has settled into a tight range instead of collapsing. $SPELL absorbed the volatility and is now stabilizing above the recent lows, which suggests the sell-off may have been a liquidity grab rather than a trend shift. The current structure looks like consolidation after expansion, not distribution. As long as this base holds, $SPELL keeps the potential to rotate higher toward the prior range.

Trade Setup

Entry: 0.0002460 – 0.0002510

Target: 0.0002620 | 0.0002750

Stop Loss: 0.0002380

Do you see this as healthy consolidation after the spike?

Or will $SPELL need one more sweep before continuation shows up?

SPELL

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