CandleFocus

CHEX Price Forms New All-Time High; Profit Taking Skyrockets

Author: Content Editor
The native token of the Chintai Network, CHEX, recently reached a new all-time high (ATH) after breaking out of a consolidation phase. This led to a surge in profit-taking activity, with many investors selling their holdings to secure gains. While this increase in selling raises concerns about a potential short-term price decline, if profit-taking slows down, CHEX could maintain its upward momentum. The selling pressure is also being driven by long-term holders capitalizing on the price increase, which could influence the market. Despite the selling, the broader market sentiment remains optimistic. CHEX is expected to hold above the $0.33 support level, which has historically acted as a key price floor. Staying above this level would keep the bullish outlook intact, with the potential for further gains. However, falling below the support level could signal a shift in market sentiment and delay the formation of a new ATH.

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