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$CHIP continues to slide — and the structure is repeating exactly as anticipated.
Price has now been driven sharply into the $0.078 zone, reinforcing the ongoing bearish pressure. Despite visible accumulation signals, the overall trend still lacks strength and consistency.
On-chain activity shows an interesting imbalance: buying interest from 161 large holders versus 94 sellers, with a long bias exceeding 120%. However, this hasn’t translated into bullish continuation. Instead, price action keeps forming lower highs, suggesting that momentum remains weak.
A key concern is the cluster of large positions opened around $0.087. These holders are currently sitting on roughly $800K in unrealized losses, which indicates trapped liquidity rather than confident accumulation. This kind of positioning often leads to volatility spikes rather than stable upside.
📊 Market Snapshot:
• 24h High: $0.1189
• RSI (6): 73.84 — cooling after overbought conditions
• Volume: Extremely high, with over 9B traded
Adding to the narrative, Binance has launched a 40,000,000
$CHIP token campaign, which may inject short-term liquidity and attention into the market.
At this stage, the broader trend remains fragile. However, the heavy long positioning creates a real possibility of a short-term squeeze before any continuation move.
The key question now:
Are you stepping in at these levels, or waiting for deeper support confirmation?
#chip $CHIP #Binance