CHZUSDT is currently testing the dynamic resistance at around $0.1170. This area has previously acted as a strong resistance level, with the market experiencing rejection from the 0.5 Fibonacci level. In order for traders to consider new short positions, the price will need to break below the key support level of $0.1140 and create a retest of this level.
Following Plancton's rules, a successful retest of this level would indicate a potential opportunity to enter a short position with a target profit level in mind.
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