The analyst noted that above the current range, $124,576 stands out as a key resistance zone. If this level is breached, the next upside target would be $127,272, which could serve as a profit-taking point in a bullish scenario. These levels will be critical in determining the strength of any upward continuation.
Lastly, indicators on the lower timeframes, as mentioned by X_Crypto, are showing local oversold conditions, hinting at a potential short-term bounce. However, the analyst cautioned that without sustained consolidation above $119,106, selling pressure could persist, limiting any meaningful upside momentum.
