$CHESS surged over +14% today, rebounding sharply from the $0.0588 level. While this bounce has attracted attention, price action remains capped below the critical resistance zone at $0.0690 — a level that previously triggered significant selling pressure. Until this resistance is convincingly reclaimed, the current rally should be viewed as a short-term pullback within a broader bearish trend.
📊 Technical Snapshot (4H Chart):
Major Resistance: $0.0690, $0.0715
Key Local High: $0.0692
Recent Swing Low: $0.0560
Support Zone: $0.0588 – $0.0600
24H Volume: 31.00M CHESS
📉 Trade Idea: Pullback Play Setup
Entry Range: $0.0660 – $0.0675
Take Profit 1 (TP1): $0.0620
Take Profit 2 (TP2): $0.0588
Stop Loss (SL): $0.0695
🔎 Market Insight:
While short-term momentum has improved, the broader structure continues to show a pattern of lower highs. Any rejection below the $0.0690 resistance could resume the downtrend. Traders should remain cautious and wait for a confirmed breakout before shifting to a bullish bias.
