$CHIP
Pump of the day on Binance news! What's happening?
The CHIP coin is showing insane returns today: +88% in the last 24 hours! 🔥 The current price is hovering around 0.109.
Why are we flying?
The main trigger — the official announcement of CHIP being added to the Binance Earn section. The crowd saw the news and started gobbling up the asset at market, flooding in huge trading volumes.
What about the technicals?
On the daily chart, we see a classic vertical candlestick with a massive gap from all moving averages. The nearest MA(7) is way down at 0.048. A local high was set at 0.11970, and now sellers are starting to gradually push the price down, taking profits.
⚠️ Market thoughts:$CHIP
The asset is incredibly overbought. Jumping on a moving train at these levels is a maximum risk of becoming 'fuel' for the whales who will be closing their positions.
Let's wait for the news noise to settle. It's safer to wait for a correction and a clear consolidation rather than catch this knife in the air. Don’t fall for FOMO and protect your deposits! 🛑 Not financial advice.
Pump of the day on Binance news! What's happening?
The CHIP coin is showing insane returns today: +88% in the last 24 hours! 🔥 The current price is hovering around 0.109.
Why are we flying?
The main trigger — the official announcement of CHIP being added to the Binance Earn section. The crowd saw the news and started gobbling up the asset at market, flooding in huge trading volumes.
What about the technicals?
On the daily chart, we see a classic vertical candlestick with a massive gap from all moving averages. The nearest MA(7) is way down at 0.048. A local high was set at 0.11970, and now sellers are starting to gradually push the price down, taking profits.
⚠️ Market thoughts:$CHIP
The asset is incredibly overbought. Jumping on a moving train at these levels is a maximum risk of becoming 'fuel' for the whales who will be closing their positions.
Let's wait for the news noise to settle. It's safer to wait for a correction and a clear consolidation rather than catch this knife in the air. Don’t fall for FOMO and protect your deposits! 🛑 Not financial advice.