$THE looks extended after a strong +15% move and is now showing signs of exhaustion near the 0.12 resistance zone. Price is struggling to push higher and forming short-term rejection wicks, which indicates sellers are stepping in. This area is acting as supply, and without a clean breakout, upside momentum is likely to fade.
The current structure favors a pullback toward 0.105–0.102 demand zone. As long as price stays below 0.122, bearish pressure remains valid and we can expect a continuation down to fill inefficiencies below. Only a strong breakout and hold above 0.122 would invalidate this setup and shift bias bullish again.
Trade Setup:
Entry: 0.115 – 0.118
TP: 0.108 → 0.102
SL: 0.122
Wait for confirmation this looks like a classic rejection after a pump.