$CHESS/USDT Trade Setup: Ready to Breakout? Watch These Key Levels!
Trade Setup Breakdown
Entry Zone: $0.0675 – $0.0687
Take Profit 1 (TP1): $0.0705
Take Profit 2 (TP2): $0.0728
Take Profit 3 (TP3): $0.0750
Stop Loss: $0.0652
$CHESS is making a strong comeback after a recent dip, showing promising signs that a breakout might be just around the corner. Currently trading at $0.0685, up 3.63%, the momentum is building, and savvy traders should keep a close eye on this setup.
Why $CHESS Is Heating Up
After a sharp liquidity sweep below the $0.0660 mark, $CHESS quickly rebounded with an engulfing green hourly candle, signaling that buyers are stepping in aggressively. This move indicates a shift in market sentiment, favoring the bulls and setting the stage for a potential breakout.
Key Levels to Watch
Resistance: $0.0697 (24-hour high)
Support: $0.0651
The critical level here is $0.0697 — a decisive close above this on the 1-hour candle could trigger a swift upside move, confirming the breakout.
Market Insight: Why Now?
The recent price action shows a classic liquidity sweep followed by a powerful reversal — a textbook sign of buyer dominance. Combine this with the bullish narrative around $CHESS’s liquid staking feature, and the chart setup looks even more compelling. If the breakout materializes, $CHESS could be poised for significant gains.
Pro Tip for Traders
Wait for a 1-hour candle close above $0.0697 before entering aggressively. This confirmation reduces risk and could lead to an accelerated price rally, helping you maximize profits.
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$CHESS might just be ready to checkmate the bears and claim its next move upward. Stay alert and trade smart!