$CHIP has rallied back into a key resistance area where selling pressure could return.
Short Setup Entry: 0.0286 – 0.0294
SL: 0.0316
TP1: 0.0274
TP2: 0.0260
Price is revisiting a previous supply zone after a relief bounce. Unless buyers can establish a clean breakout above resistance, the current move may simply be a retracement within the broader downtrend. A rejection here could trigger a move back toward the liquidity resting below recent lows.
Short Setup Entry: 0.0286 – 0.0294
SL: 0.0316
TP1: 0.0274
TP2: 0.0260
Price is revisiting a previous supply zone after a relief bounce. Unless buyers can establish a clean breakout above resistance, the current move may simply be a retracement within the broader downtrend. A rejection here could trigger a move back toward the liquidity resting below recent lows.