🚀 $CHIP is showing a potential technical setup!
CHIP/USDT on the 1W timeframe is showing signs of recovery after establishing a macro base near 0.02147 and attempting to test higher resistance zones.
📈 The Technical Setup:
• The Pattern: Range accumulation and impulsive recovery with Fibonacci extension targets
• Short-term Target: 0.06744
• Macro Objective: 0.08500
• Market Structure: Reversal and consolidation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.03500 - 0.03903
• Resistance: 0.04988
• Breakout Level: 0.04988
• Stop Loss / Invalidation: 0.03527
📊 Confirmation:
• Volume: Neutral/standard volume visible on weekly candles
• Momentum: Strong bounce from the 0 Fibonacci level around 0.02147 with continuous recovery candles
• Trend: Attempting a macro trend reversal following a sharp correction
⚠️ Invalidation:
A decisive weekly close below the 0.03527 support zone would invalidate this potential recovery setup.
CHIP is attempting a recovery after finding a macro bottom around 0.02147, watching key resistance at 0.04988 for continuation.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#chip #crypto #BinanceSquare #Binance #TechnicalAnalysis
CHIP/USDT on the 1W timeframe is showing signs of recovery after establishing a macro base near 0.02147 and attempting to test higher resistance zones.
📈 The Technical Setup:
• The Pattern: Range accumulation and impulsive recovery with Fibonacci extension targets
• Short-term Target: 0.06744
• Macro Objective: 0.08500
• Market Structure: Reversal and consolidation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.03500 - 0.03903
• Resistance: 0.04988
• Breakout Level: 0.04988
• Stop Loss / Invalidation: 0.03527
📊 Confirmation:
• Volume: Neutral/standard volume visible on weekly candles
• Momentum: Strong bounce from the 0 Fibonacci level around 0.02147 with continuous recovery candles
• Trend: Attempting a macro trend reversal following a sharp correction
⚠️ Invalidation:
A decisive weekly close below the 0.03527 support zone would invalidate this potential recovery setup.
CHIP is attempting a recovery after finding a macro bottom around 0.02147, watching key resistance at 0.04988 for continuation.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#chip #crypto #BinanceSquare #Binance #TechnicalAnalysis
