Reels Reactions feature is Under Development by Facebook: Social Media News

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Facebook's tech team is now developing the new reaction feature on reels just like other types of posts on its social media platform. After the feature gets rolled out, the reactions for Reels would enable users to respond to any one of a total of 7 emoji symbols. Till now, facebook and instagram both has only like button on reels, and you can comment on videos just like other short-video platforms. People in India love to watch more short videos, and Meta understands it well, and is looking to expand engagement options to allow users to express their emotions in the form of emojis.

Most probably, the options look like the reactions on normal posts that have 7 distinct options. You have to long press to pop-up the reaction option menu to respond and show your emotion.