♟️ $CHESS /USDT – Breaking Structure or Just a Liquidity Flush?
📊 Chart: 1H Timeframe
Current Price: $0.0774 (▼-12.93%)
24H Range: High $0.0925 → Low $0.0736
MA(20): $0.0774 (now tested as resistance)
📉 Market Behavior:
CHESS is in clear downtrend mode, suffering a steep drop after failing to hold the $0.088 area. The recent breakdown accelerated with a large red candle, followed by weak bounce attempts.
⚡️ Momentum Snapshot:
• Big volume spike on breakdown
• MA(20) acting as resistance
• Bearish control in Order Book (62.21% ask dominance)
• Failed structure near $0.083
🧱 Key Levels:
• Immediate Resistance: $0.0785 → $0.080
• Key Support: $0.0735
• If $0.0735 breaks: Possible dump to $0.068
• If reclaimed $0.080+: Could trigger relief rally to $0.085
🧠 Opinion – Trade Setup Idea:
• Bias: Bearish, but bounce could trap shorts
• Short Entry: $0.078–$0.080 (retest of breakdown zone)
• TP1: $0.0735
• TP2: $0.070
• SL: Above $0.082
• Alternative Long Setup: Only if price reclaims $0.083 with volume — aim for $0.088/$0.090 with SL under $0.078
❗️DYOR – This looks like a controlled bleed after failed support, but sharp reversals are possible in low caps. Set tight risk levels.