โ๏ธ $CHESS /USDT โ Squeezing into a Decision Point
๐ 4H Timeframe | ๐ฐ Price: $0.0737 (+0.41%)
CHESS has been consolidating in a sideways chop for over a month โ low volatility, low volume, and tight MA clustering signal an imminent breakout. But which way?
๐ Technical Outlook:
MA Convergence: All 3 key MAs (7, 25, and 99) are clustered around $0.071โ$0.072, showing strong indecision โ this is usually followed by high-momentum moves.
Range Bound: Trading between $0.065 and $0.082 since early June. Breakout or breakdown from this box will set the next direction.
Price Action: Holding above mid-range support ($0.070) is short-term bullish.
๐ฏ Breakout Targets:
๐ฏ Target 1 โ $0.080
Immediate resistance from the recent highs. A flip above this would trigger momentum buying.
๐ฏ Target 2 โ $0.093
A key resistance zone from April โ this would also complete a W-shaped reversal from the $0.06 base.
๐ฏ Target 3 โ $0.110
March's high and final top of the range before the drop. Reaching here requires volume spike and market-wide support.
๐ Risk to Watch:
A break below $0.068 would invalidate the squeeze and point toward a liquidity flush back to $0.060.
CHESS lacks hype catalysts โ watch for fakeouts before committing big.
๐ง Conclusion:
CHESS is compressing like a spring. Whether itโs a fakeout or a breakout, this low-volatility zone wonโt last long. Smart money will react โ not guess. Set alerts at both $0.068 and $0.080 and wait for confirmation.
โ ๏ธ DYOR โ Do Your Own Research. This is not financial advice. Markets can be volatile โ always trade responsibly!
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