$TOWNS 1h chart is showing clear downside exhaustion after a sharp sell off from the $0.00430 area toward $0.00360. The recent candles are printing smaller bodies with long lower wicks, suggesting sellers are losing momentum near the $0.00360 support zone.
Price action is attempting to stabilize after multiple lower highs and lower lows. The latest bounce from $0.00360 shows early signs of short term demand stepping in. However, structure is still technically bearish until price reclaims the $0.00390 to $0.00400 resistance cluster.
For a confirmed reversal momentum shift, watch for:
Strong bullish close above $0.00385
Higher low formation above $0.00365
Break and hold above $0.00400
If buyers manage to reclaim $0.00400 with volume, it could trigger a relief rally toward $0.00420 and potentially $0.00440 liquidity.
Failure to hold $0.00360 would invalidate the early reversal attempt and open the door for continuation lower.
Current phase looks like early accumulation attempt, but confirmation is still pending.
