FRAX's recent market movement is indeed promising. From 0.75 all the way up to 1.148, now back around 1.10, many might think it's about to fall. But a closer look at the capital flow suggests this is more like a strong consolidation rather than a rebound.

During the previous period from 0.75 to 0.80, there was a significant decrease in volume, a typical sign of accumulation at low levels. The main players were quietly building positions there, then quickly pushing the price up to break away from the cost basis. Currently, the 1.08-1.12 range is oscillating back and forth, which is a sign of turnover—allowing short-term funds to enter and exit, while also digesting those trapped above.

From a technical perspective, the 1.05-1.08 zone is the most critical support level right now. As long as it holds, the overall structure remains strong. The 1.148 level above is a clear resistance. To continue rising, a volume breakout is necessary.

Conversely, if the 1.05-1.08 support is broken, it’s likely to fall back to around 1.00, which is a psychological threshold. Only then can we determine whether the trend will continue to decline or truly reverse. So, the key is whether the 1.08 line can hold.