$CHIP Facing Selling Pressure After a Strong Rally – Short-Term Opportunity to Short?

After a explosive upward move with wide volatility, $CHIP is showing clear signs of weakening as buying power no longer maintains its previous dominance. On lower timeframes, the price structure begins forming lower highs, indicating that the sellers are gradually regaining control of the market, especially at key resistance levels.
Currently, the profit-taking pressure increases after the strong rally, causing momentum to decline. If the price continues to be rejected at the resistance zone and fails to make a new high, the possibility of a deeper correction is entirely possible.
📉 Trading Plan (Short)
⟶ Entry zone: 0.0665 – 0.0672
⛔ Stop Loss: 0.0705
🎯 Take Profit: 0.0640 – 0.0618
The strategy prioritizes waiting for clear confirmation signals before entering, avoiding trades when the price has not yet shown specific signs of weakness. If selling pressure continues to stay below the resistance zone, $CHIP could extend the correction towards lower support levels.
During volatile periods, capital management and risk control remain key factors to protect your account. Always adhere to trading discipline and do not enter trades without clear confirmation from the price structure.
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