CHZ Futures (CHZUSDT) Recent price action shows obvious technical signal conflicts. RSI indicators across 15-minute, 1-hour, and 4-hour timeframes are all in the red, with the 1-hour level reaching an extreme overbought zone of 91, which is a dangerous signal. However, there's a noteworthy detail worth attention — the 1-hour MACD histogram is still expanding upward, which typically suggests upward momentum hasn't completely exhausted, but could also reverse in the next candle.
Most alarming is the volume performance: it has contracted 95% compared to recent levels. This volume depletion combined with extreme overbought conditions is like an overly tightened string that could snap at any moment.
From a price perspective, we're currently hovering near the 0.0500 psychological level. Resistance above is at 0.0515 and 0.0530, while support below is at 0.0485 and 0.0470.
My recommendation is straightforward: the best move right now is no move at all. If it breaks above 0.0515, I won't chase highs and will wait for a reasonable pullback to reconsider. Conversely, if it breaks below 0.0485, I can consider light long positions on short entries targeting 0.0470, but stop loss must be strictly set at 0.0505. I'd rather miss a move than get caught by an extreme overbought rebound.
CHZ Futures (CHZUSDT) Recent price action shows obvious technical signal conflicts. RSI indicators across 15-minute, 1-hour, and 4-hour timeframes are all in the red, with the 1-hour level reaching an extreme overbought zone of 91, which is a dangerous signal. However, there's a noteworthy detail worth attention — the 1-hour MACD histogram is still expanding upward, which typically suggests upward momentum hasn't completely exhausted, but could also reverse in the next candle.
Most alarming is the volume performance: it has contracted 95% compared to recent levels. This volume depletion combined with extreme overbought conditions is like an overly tightened string that could snap at any moment.
From a price perspective, we're currently hovering near the 0.0500 psychological level. Resistance above is at 0.0515 and 0.0530, while support below is at 0.0485 and 0.0470.
My recommendation is straightforward: the best move right now is no move at all. If it breaks above 0.0515, I won't chase highs and will wait for a reasonable pullback to reconsider. Conversely, if it breaks below 0.0485, I can consider light long positions on short entries targeting 0.0470, but stop loss must be strictly set at 0.0505. I'd rather miss a move than get caught by an extreme overbought rebound.