This correction is healthy because it removes weak shorts and resets positioning after price moved too far, too fast. When the market forces liquidations at key levels, it often signals a transition from emotional trading to more deliberate accumulation.

$CC just triggered a short liquidation of $2.8176K around $0.09228, and I’m watching this zone closely. This area has already proven itself as a reaction point in the past, where price previously held support before expanding higher. Shorts getting trapped here tells me sellers underestimated the strength of this level.

Structurally, this zone also aligns with a key retracement of the prior move, which adds confluence. We’ve seen multiple pauses and wicks around this range before, showing that buyers are active here. I’m watching how price holds because they’re building strength instead of rejecting sharply. If this level holds, it confirms acceptance above former resistance.

Trade setup I’m watching: Entry Zone: $0.089 – $0.093

Target 1: $0.101

Target 2: $0.112

Stop Loss: $0.084

I’m letting price settle before committing. If this level holds and the structure tightens, that’s my confirmation. They’re building strength around this zone, and if this level holds, the next continuation higher can unfold with much cleaner momentum.