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$CHIP Tracked the data from yesterday
I'll compare it with Rave again, honestly the chip's market makers are too clueless ( their behavior is ugly ), both coins are on their third day, chip is trying to take both sides, the liquidation volume for short positions and long positions is approaching quickly, I believe many short sellers who chased the short last night got liquidated. In contrast, Rave's explosion on the third day allowed the bulls to stay calm and steady.
Now it's time to decide the direction, from the chart you can see that around 0.09, the market makers are clearly supporting the price, ( open interest ) isn't showing any major issues ( From the open interest, I lean towards a bullish outlook ), no significant change from before.
My feeling is that going long on this coin is more comfortable than going short, mainly because of the fee structure ( I’ve already paid quite a bit in funding fees ), and I am also prepared to exit at any time.
Everyone, what do you think? Will it fall or rise?