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Everyone thought $CHILLGUY had ended after that dip, but the chart shows otherwise.
We just had a strong rebound from the support level of 0.0108, and the current price is at 0.0147.
That's a 22% move in 24 hours, which is not just noise.
Looking at the daily candles, we are forming a clear higher low.
If you look at the 24-hour volume, it’s at 18 million USDT, quite good liquidity for this rally.
The real challenge will be the resistance level at 0.0154.
We’ve touched it several times and been rejected.
If the daily candle closes above that level, we could easily see a rally back to the high of 0.017 from mid-April.
Buy orders still outnumber sell orders in the current order book.
I remain cautious, but the bullish momentum is definitely leaning in favor of the bulls.
Let’s see if the bulls can hold this level or if it’s just a false breakout.
We just had a massive bounce from that 0.0108 support level and the price is currently sitting at 0.0147. That’s a 22% move in 24 hours which isn't just noise.
Looking at the daily candles, we are forming a very clear higher low. If you look at the 24h volume, it's sitting at 18M USDT which is pretty decent liquidity for this move.
The real test is going to be 0.0154 resistance. We’ve touched it a few times and got rejected. If the daily candle closes above that, we could easily see a run back toward the 0.017 high from mid-April.
Bids are still outperforming the asks in the order book for now. I’m staying cautious but the momentum is definitely leaning bullish.
Let's see if the bulls can hold this level or if it's just a fakeout.
#OilBreaks110