๐ $CHIP /USDT โ Bearish Reversal After Parabolic Pump โ ๏ธ
After a strong vertical rally, price is now showing clear exhaustion signals near the top โ a classic setup for a pullback or deeper correction.
๐ Whatโs Happening:
Parabolic move โ unsustainable momentum
Recent candles showing rejection wicks at highs (~0.058โ0.059)
First signs of seller pressure entering
MACD still bullish but momentum slowing โ possible crossover soon
โก Bearish Setup:
Short opportunities on pullbacks toward resistance
๐ Key Levels:
๐ด Resistance: 0.0585 โ 0.060
๐ข Support Zones:
0.052
0.048
0.043 (major support)
๐ฏ Targets:
TP1: 0.052
TP2: 0.048
TP3: 0.043
๐ Invalidation:
Clean breakout & hold above 0.0605
๐ก Conclusion:
Momentum is fading after an aggressive pump โ expect a healthy correction before next move.
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