The price of CHILLGUY token is showing signs of recovery after a recent decline, while large investors are actively accumulating assets.
Current Situation and Price Analysis of CHILLGUY
The price of CHILLGUY recently bottomed at $0.0383 but is now rebounding, testing the 7-day EMA with fading bearish momentum on the MACD. After failing to break out of a cup-and-handle formation, the token's price slid to the $0.04 level. A recovery attempt was rejected in late July, eventually pushing the price to its lowest point since April at $0.03830 on August 25. Currently, CHILLGUY is trading at $0.04496 as it tests the dynamic 7-day EMA resistance.
Whale Accumulation: Impact on the Market
Whales have stepped in aggressively, recording over $560,000 in net monthly inflows as retail wallets continue to offload holdings. Historically, this kind of divergence can mark a local bottom since once retail supply is exhausted, prices have room to recover on relatively small demand.
Key Support and Resistance Levels
Analyzing the current price structure of CHILLGUY reveals several crucial levels. Immediate resistance lies at the 7-day EMA around $0.045, followed by the psychological $0.05 level. Breaking above this could open the door to $0.065, where the 20-day EMA currently resides. On the downside, the recent low of $0.03830 represents the primary support level, with a break below this potentially sending the price towards $0.032. However, strong whale accumulation at these levels suggests that this support is likely to hold.
Overall market sentiment surrounding CHILLGUY appears mixed, but the accumulation by whales presents positive potential for price recovery in the near term.
