Short liquidations around $0.1666 suggest bearish positions were squeezed, a sign buyers briefly regained control. While the liquidation size is relatively small, it may encourage short-term momentum if follow-through volume appears. Bulls now need to defend nearby support to keep the recovery intact.
Support: $0.1620
Resistance: $0.1700
Next Target: $0.1760
Watch for a strong close above resistance before expecting continuation. Failure to hold support could quickly return price to consolidation.
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