CGPT is showing some compelling setup around this support/resistance zone. The signs point toward potential short squeeze activity here. You can catch it in the repeated spot price spikes—classic indicator that someone's aggressively pushing the price higher, likely trying to trigger stop-losses and liquidations on the short side. Interestingly, there's noticeable volume action showing up on the spot order books, which confirms real money is involved. That said, the whole picture changes fast if price starts closing below this level. Once that support breaks, the bullish structure falls apart. The next move either confirms the squeeze thesis or invalidates it entirely. Worth watching closely.