$CHESS ch/USDT BEARISH MOVE IN PLAY! 🚨📉

The chart for $CHESS /USDT is signaling a bearish outlook as price action breaks down key moving averages and tests lower support levels. Let’s break it down technically 🧠📊

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🔍 Current Price: $0.0726

🔻 Daily Change: -8.10%

🧭 Trend: Bearish Momentum Picking Up

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📌 KEY LEVELS TO WATCH:

Immediate Resistance: $0.0740 (Minor), $0.0767 (Major)

Immediate Support: $0.0712 (Near-term), $0.0690 (Critical Break Level)

Moving Averages:

MA(7): $0.0730 ⬆️

MA(25): $0.0758 ⬆️

MA(99): $0.0792 ⬆️

CHESS is trading below all key MAs, showing clear downside pressure. MACD likely below signal line (momentum bearish), and volume spikes indicate aggressive sell-off pressure.

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🎯 TRADE SETUP (SHORT)

📉 ENTRY: $0.0725–$0.0730

🎯 TARGETS (TP):

TP1: $0.0712

TP2: $0.0690

TP3: $0.0680 (if breakdown intensifies)

🛑 STOP LOSS (SL): $0.0745 (above short-term resistance)

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⚠️ RISK MANAGEMENT 🛡️

Risk only 1-2% of your capital per trade

Stick to SL strictly — avoid chasing price

Watch for volume confirmation on support break

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