The rebound itself formed higher lows from the recent bottom, showing demand stepped in near the base. If buyers manage to hold above this reclaimed range, the structure shifts from recovery to accumulation. A sustained hold above the $0.00700 mark would confirm acceptance back inside the prior range and open room toward $0.007400-$0.007800, where the next liquidity pocket sits. On the downside, losing $0.006800 would invalidate the recovery structure and likely pull price back toward the recent low near $0.006500.
Furthermore, the derivatives data adds another layer to the move. Open interest declined nearly 4% while price surges. This indicates short positions closing and removing selling pressure. For now, leverage is resetting rather than expanding. If buyers maintain control above the recent base, the token can slowly expand upward.
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