$CHIP Oversold Bounce or Another Breakdown Incoming?
Long $CHIP
• Entry: 0.0675 – 0.0690
• Stop Loss: 0.0645
Targets:
• TP1: 0.0740
• TP2: 0.0790 – 0.0820
• TP3: 0.0900+
CHIP is consolidating near the lower end of its recent range after a sharp correction from the 0.14+ launch highs. Despite the sell-off, price is showing signs of stabilization around the 0.067 – 0.069 support zone, with small recovery candles and continued volume interest.
This pullback has pushed momentum into oversold territory, which can often create a high-reward bounce opportunity if buyers step in aggressively. The structure remains weak overall, but a reclaim above 0.0720 would strengthen the bullish case and open the door for a move back toward higher resistance.
The bullish bias remains valid as long as price holds above 0.0645. Manage risk strictly and watch for a volume surge on the bounce.
Trade $CHIP here 👇🏻
