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#clip 【CHIP Today's Price Action Observation】
Today, CHIP is oscillating around 0.8 after just hitting an ATH near 0.054 yesterday and then retracing, currently in a high-level consolidation phase.
In terms of volume, the 24h trading volume is fairly active, with no significant signs of a sell-off. Short-term support is in the 0.74-0.75 zone.
Personally, I see a few scenarios at this position:
1. If it can hold above 0.78 and consolidate sideways, there might be a chance to push higher again.
2. If it breaks below 0.74, it could retest around 0.65 in the short term.
The overall backdrop for AI computing power is still strong, and the narrative for CHIP remains intact, but it's still fresh off the TGE, and there’s real unlocking pressure—don't forget that 80% of the tokens are yet to be released.
Keep your positions light, set your stop-loss orders, and don't get swept away by the crowd's emotions.
What do you all think? Let's discuss 👇
This is pure price action analysis, no calls here. Do you think any adjustments are needed?
Today, CHIP is oscillating around 0.8 after just hitting an ATH near 0.054 yesterday and then retracing, currently in a high-level consolidation phase.
In terms of volume, the 24h trading volume is fairly active, with no significant signs of a sell-off. Short-term support is in the 0.74-0.75 zone.
Personally, I see a few scenarios at this position:
1. If it can hold above 0.78 and consolidate sideways, there might be a chance to push higher again.
2. If it breaks below 0.74, it could retest around 0.65 in the short term.
The overall backdrop for AI computing power is still strong, and the narrative for CHIP remains intact, but it's still fresh off the TGE, and there’s real unlocking pressure—don't forget that 80% of the tokens are yet to be released.
Keep your positions light, set your stop-loss orders, and don't get swept away by the crowd's emotions.
What do you all think? Let's discuss 👇
This is pure price action analysis, no calls here. Do you think any adjustments are needed?
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