$CHESS Oversold Bounce or Just a Blip?
CHESS dumped hard today, losing over -17% and tagging a new low at $0.0624. Price is now attempting a rebound, but major resistance looms overhead. This could either be a relief rally… or the setup for another leg down.
Key Levels to Watch
Resistance: $0.0660 – $0.0680 – If bulls regain this zone, watch for:
TP1: $0.0695
TP2: $0.0708
Support: $0.0640 – If the bounce fails, expect further drop toward:
TP1: $0.0620
TP2: $0.0600
Trade Setup – Bounce or Breakdown?
Bullish Entry: Break and hold above $0.0660 with rising volume
Bearish Entry: Breakdown below $0.0640 confirms downside
Stop-Loss: Risk must be tight—volatility is extreme after the liquidation spike
Volume Spike:
Nearly 1M+ surge as price dipped—possible capitulation, but no confirmation yet.