$CHIP weak structure holds as sellers maintain control 🔻
$CHIP remains in a fragile technical posture, with price action failing to reclaim the upper end of the current range and sellers continuing to lean on every rebound. The tape suggests persistent overhead supply, while the inability to absorb pressure above the local pivot keeps the structure compressed and directionally biased to the downside. In this kind of setup, rallies are being sold rather than accumulated.
The market is still treating this name like a liquidity event, not a trend reversal. What retail often misses is that weak structures can persist far longer than expected when passive supply keeps refreshing above price and short-term participants are forced to provide exit liquidity on intraday bounces. Until the 0.0710 area is reclaimed with convincing volume, the more probable outcome is continued mean reversion lower, with downside targets acting as magnets for resting liquidity.
Entry: 0.0695 – 0.0710 🔻
Target: 0.0675 📉
Target: 0.0658 📉
Target: 0.0640 📉
Stop Loss: 0.0725 🛑
Risk disclosure: For informational purposes only. Not financial advice. Trading involves risk, and capital can be lost.
#CHIP #CryptoTrading #RiskManagement #Altcoins
