⚠️ CGPT is bouncing, but has the downtrend really ended?
$CGPT USDT is trading near 0.01743 on the 4H chart after recovering from the recent low around 0.01557.
The rebound is encouraging, but the broader chart still shows lower highs. Sellers could step in again near resistance.
Short Setup – Levels to Watch 🐻
Current price: 0.01743
Resistance zone: 0.0175–0.0178
Next resistance: 0.0186
Support: 0.0164
Major support: 0.01557
My view: If CGPT gets rejected around 0.0175–0.0178, bearish momentum could return toward 0.0164. A strong breakout and hold above 0.0178 would weaken the short idea.
I'm watching the reaction at resistance rather than chasing the current move.
Will sellers defend resistance, or can buyers turn this recovery into a reversal?
$CGPT #ChainGPT #cryptotrading
$CGPT USDT is trading near 0.01743 on the 4H chart after recovering from the recent low around 0.01557.
The rebound is encouraging, but the broader chart still shows lower highs. Sellers could step in again near resistance.
Short Setup – Levels to Watch 🐻
Current price: 0.01743
Resistance zone: 0.0175–0.0178
Next resistance: 0.0186
Support: 0.0164
Major support: 0.01557
My view: If CGPT gets rejected around 0.0175–0.0178, bearish momentum could return toward 0.0164. A strong breakout and hold above 0.0178 would weaken the short idea.
I'm watching the reaction at resistance rather than chasing the current move.
Will sellers defend resistance, or can buyers turn this recovery into a reversal?
$CGPT #ChainGPT #cryptotrading
