$CHIP Lost nearly all of its 37% gain in just 4 days
From $0.052, CHIP surged to $0.0718 on Oct. 11, with volume five times the usual level. Then came a continuous decline: the price fell for four straight sessions and now sits at $0.0527, giving back nearly all of its gains.
On the 4-hour chart, the price is below both the EMA9 and WMA45, while the RSI is at 36, indicating weakness. The price has just retested the $0.051 level, which was tested twice recently.
The daily chart looks better, with the RSI14 around 54. Today's volume is just 0.42 times the 20-session average, and selling pressure is no longer as strong as it was during the steep decline.
CHIP is part of Binance's Seed group. Its liquidity remains thin compared with larger coins, and it is more volatile than usual.
Personal observation, not investment advice
#CPIWatch #TinFed #CHIP
From $0.052, CHIP surged to $0.0718 on Oct. 11, with volume five times the usual level. Then came a continuous decline: the price fell for four straight sessions and now sits at $0.0527, giving back nearly all of its gains.
On the 4-hour chart, the price is below both the EMA9 and WMA45, while the RSI is at 36, indicating weakness. The price has just retested the $0.051 level, which was tested twice recently.
The daily chart looks better, with the RSI14 around 54. Today's volume is just 0.42 times the 20-session average, and selling pressure is no longer as strong as it was during the steep decline.
CHIP is part of Binance's Seed group. Its liquidity remains thin compared with larger coins, and it is more volatile than usual.
Personal observation, not investment advice
#CPIWatch #TinFed #CHIP