$CRCL /USDT Perpetual: Rejection at 60 Signals Short-Term Corrective Phase
$CRCL /USDT on the 1H timeframe shows a clear rejection from the 60.30 local high, followed by a sequence of lower highs and an impulsive bearish leg toward the 55.37 intraday low. The recent sell-off reflects strong supply pressure near the psychological 60.00–60.50 resistance zone, where liquidity was likely absorbed before momentum shifted downward. Price is currently hovering around 56.00, attempting a minor stabilization after sweeping the 24h low (55.37). Structurally, the market has transitioned from short-term consolidation into a corrective pullback phase, with 57.20–58.00 now acting as immediate resistance on lower timeframes.
If bulls defend the 55.30–55.50 support cluster, a relief bounce toward 57.50–58.30 is technically feasible. However, failure to hold above 55.30 could expose the pair to deeper downside continuation, potentially testing lower liquidity pockets below the current range. Traders should monitor volume expansion and reaction strength around the 56.00 level to assess whether this is accumulation or simply a temporary pause within a broader corrective structure.