The price of $CHIP is showing signs of bearish momentum after rejecting the 24-hour high. With price struggling to maintain above key resistance levels, a pullback toward lower support zones seems imminent. The current structure hints at continued selling pressure with minimal buy support.

Trading Plan SHORT: $CHIP

Entry: 0.0631 – 0.0634

Stop-Loss: 0.0639

Targets:

TP1: 0.0625

TP2: 0.0617

TP3: 0.0610

Analysis: The market structure is decidedly bearish, with recent rejections at the highs suggesting a continuation of downside momentum. Momentum indicators confirm weak buyer control, with the sellers stepping in as price fails to hold above key levels. The probability favors this move due to the lack of support and the strong resistance rejection. This short setup aligns well with the expected retracement, offering a solid risk-to-reward.

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