Watching IDR Volatility Around 29k Mark

Been keeping an eye on $IDR today, specifically how it’s reacting around that 29,000 level. We had a pretty sharp drop earlier, hitting 28,188.1, but it seems to have found some footing and is pushing back up towards the 28,935 area as I write this. The interesting part for me is whether this bounce has legs, or if it's just a dead cat bounce before another leg down, potentially revisiting those lows or even breaching them. For anyone looking at options here, the implied volatility is definitely elevated, which makes for some pricy premium, but also opportunities if you have a strong directional conviction.

My take is that if we see a clear break and sustained close below 28,000, that invalidates the current potential recovery scenario for me and suggests more downside is likely. Conversely, a push through 29,430 and holding above it could signal a more significant short-term reversal. It’s all about confirmation, as always, but definitely some action worth monitoring for the next session or two.