Tyro Chart Analysis, page-372

Looking at your chart you can see quite clearly resistance or points of supply at $1.10 & $1.20.
On 27th price gaps to $1.30 & is sold off.
So in response to your question I would say both $1.20 & $1.30 are points of resistance or supply.
Something I use which is useful to find pivot points or resistance & support are the bollinger bands.
(normally use 2 SD (95% of time will contain price) I changed it to 3 SD (99.7% of time will contain price) & showing only the upper band which is resistance)
$1.30 was a 3 Standard deviation move which is difficult to sustain.