$CHIP just went through a rough drop, and you can feel it in the chart — this isn’t a smooth trend, it’s a shakeout.
Right now price is around 0.0686, still down hard on the day. Earlier, it reached 0.0795, but that level didn’t hold at all. Sellers took control and pushed price down fast, all the way to 0.0658.
That move wasn’t small — it was a clear flush. Weak hands got pushed out, and momentum flipped quickly.
But here’s where it gets interesting…
After hitting 0.0658, price didn’t keep falling. Buyers stepped in and started building a base. Now we’re seeing a slow recovery, with price trying to climb back toward the 0.069–0.070 zone.
This tells us the panic phase is cooling down.
Right now, the key levels are clear: 0.0658 acting as strong support
0.0705–0.0720 acting as resistance zone
If buyers manage to push above that resistance area, we could see a stronger recovery move, because the market already cleared out a lot of sellers during the drop.
But if price gets rejected again and falls back toward 0.0658, then this becomes a weak bounce, and downside pressure can return.
In simple words: The dump already happened.
Now the market is deciding — recovery or another leg down?
This is a sensitive zone.
Not fully bearish anymore… but not safe yet either.
The next move from here will show whether this was just a shakeout… or the start of something deeper.
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