ChainGPT (CGPT) is experiencing a significant decline, down -13.12% in the past day with a 24-hour trading volume of $27.39M (a decrease of -38.51%). The sharp drop, combined with the high volatility, indicates potential consolidation or a bounce-back opportunity in the short term. With the current price hovering at $0.2242, the key support zone lies around $0.2175 (daily low), while the resistance is near $0.2627 (daily high).
Given the market's sentiment, a scalping strategy can capitalize on quick price movements. Below are suggested levels for both long and short positions.
Long Position:
Action: Long
Entry Range: $0.2190 - $0.2230
Stop-Loss (SL): $0.2175
Take-Profit (TP): $0.2420
Short Position:
Action: Short
Entry Range: $0.2600 - $0.2627
Stop-Loss (SL): $0.2666
Take-Profit (TP): $0.2380
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