The Relative Strength Index (RSI) is currently at 38, indicating persistent bearish momentum in the market. This altcoin has not yet bounced back, and a notable drop to $1.25 could occur before any significant recovery happens.
Nevertheless, the recent upward movement suggests that there is still robust demand even at these lower price points. That being said, if this support level is breached, the likelihood of a more substantial decline could increase significantly, with the $1.10 range possibly coming into play.