$CHIP is up 10.1% in 24h, trading at 0.0286 after touching 0.0320 earlier. This move follows a 7-day range of 0.0215–0.0320.
The 0.0282 EMA20 is now support, with price holding above it and the EMA50 at 0.0267. This looks like a relief bounce in a fearful market (Fear & Greed 34). Volume for the day is $20M, but that doesn't confirm a breakout.
A sustained move above the 0.0320 7-day high would invalidate the downtrend. Until then, I'd expect it to consolidate around these levels.
What level would you need to see for a trend reversal?
$CHIP
The 0.0282 EMA20 is now support, with price holding above it and the EMA50 at 0.0267. This looks like a relief bounce in a fearful market (Fear & Greed 34). Volume for the day is $20M, but that doesn't confirm a breakout.
A sustained move above the 0.0320 7-day high would invalidate the downtrend. Until then, I'd expect it to consolidate around these levels.
What level would you need to see for a trend reversal?
$CHIP