$CHESS 🚀🔥 Tranchess (CHESS) Faces Big Sellers at Market: Persistent Downward Pressure 📉⚠️
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🦑🦑Tranchess (CHESS) is under sustained selling pressure as large holders offload positions, steadily driving price action lower over the past several sessions 🌪️🎯. After failing to hold key support around $0.23, CHESS has formed a series of lower highs and lower lows, highlighting the dominance of aggressive sellers 🪓🍂. On-chain data shows whale wallets reducing their exposure consistently, with distribution accelerating as price dipped beneath $0.22 🐍🧊.
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🐢🐢Momentum indicators remain bearish. The Relative Strength Index (RSI) has slid to 33, well below neutral, confirming that sellers have the upper hand 📉🎭. Meanwhile, MACD histograms continue to deepen in negative territory, and daily moving averages have rolled over decisively 🧭⚡. Volume patterns add further evidence, with red candles dominating recent sessions and showing clear preference for distribution over accumulation 🪁🍇. In derivatives markets, funding rates have turned negative and open interest is rising steadily, indicating that traders are positioning for more downside 🌵🎢. If CHESS breaks below $0.20 with conviction, the next logical target lies in the $0.17–$0.18 zone 🧊🚧.
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🪴🪴Fundamentally, Tranchess continues to innovate with yield-enhancing strategies and DeFi products 🌈📡. However, broader market sentiment and strong technical selling pressure have overshadowed project milestones in the short term 🦥🌫️.
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🎯🎯Traders should keep a close watch on price behavior near the $0.20 mark. A confirmed break below this level with sustained volume could accelerate the downtrend further. Conversely, a strong recovery above $0.23 may spark a relief bounce.