$CHESS Full Detailed Chart Analysis | What's Next?

Currently trading at 0.08533.

$CHESS is showing selling pressure.

After asymmetrical triangle bullish breakout at 0.083 level,

it zoomed to the peak of 0.092.

On sudden price hike, quickly traders chose to take out profit,

forming the head & shoulders chart pattern on top.

with a clean break out at neckline at 0.086.

Price tumble down to 0.083 where currently

price is in a range & more than not is still in a distribution phase.

Buyers tried to push the price up to retest previous support

which now act as resistance, this level also served as H&S

neckline. Rejection at this level showcase that

sellers have upper hand still.

Look for a break below 0.083 level which will create

handle & confirm continuation of bearish momentum.

After the clean break, we can target lower support levels

at 0.0816, 0.08 & 0.076, with stop loss 0.088 above the

previous liquidity sweep.

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