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【$CHIP Signal】Long chasing game and short squeeze, 1H volume breakout
$CHIP 1H level violent surge, price has broken through the upper Bollinger Band, RSI soaring to 80.33, buying pressure extremely crowded. The 4H Bollinger Bands are widening significantly, with the midline at 0.0355 far behind.
Funding rate -1.6844%, short positions have very high holding costs, risking a short squeeze. Market depth imbalance -16.18%, sell orders are clearly weak, making it easy for the price to rise but hard to fall.
This position is directly to chase longs, enter around the current price of 0.05691, with stops below 0.05617. The first target is 0.05924; once reached, halve the position, and for the remaining position, aim to break even at 0.06027.
The 1-hour MACD fast and slow lines are opening upward, the histogram is still expanding, showing no signs of momentum fading. Volume has surged significantly during the rally, indicating genuine buying power. This strong momentum under negative funding rates looks more like a short squeeze than just a quick dump. Risk-reward ratio close to 2, worth a try.
Check real-time quotes 👇 $CHIP
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