The price of Just a Chill Guy (CHILLGUY) is showing signs of potential recovery after recently bottoming at $0.0383. Whale activity accumulating tokens creates conditions for possible price growth.
Signals of CHILLGUY Price Recovery
The recent price of CHILLGUY hit a low of $0.0383, but whale activity has increased, with over $560,000 in net inflows over the last month. This accumulation amid retail selling may indicate a potential rebound, especially as retail supply starts to diminish.
Technical Indicators and Their Significance
Technical indicators reflect a shift in market sentiment for CHILLGUY. While the short-term trend remains bearish, MACD convergence suggests a weakening of bearish momentum. The support level at $0.03830 may create an opportunity for positive price movement if maintained.
Key Resistance and Support Levels
The current price of CHILLGUY faces immediate resistance at the 7-day EMA just above $0.045 and psychological resistance at $0.05. A break above these levels could lead to further gains, while major support is at $0.03830.
The observed accumulation of CHILLGUY tokens by whales amid retail selling may signal an opportunity for price recovery. Maintaining above key support levels will be critical for this process.
