$CHESS got to dump 📉 position everyone hold🚀🚀🚀💥#NFPWatch

Current Price: $0.0593

24h Change: -23.19%

24h High/Low: $0.0796 / $0.0590

Timeframe: 4-Hour

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📉 Trend Analysis

Strong Downtrend: Price dropped significantly from $0.0984 to $0.0593.

Bearish Candles: Multiple large red candles signal aggressive selling pressure.

Support Broken: Price broke the previous support near $0.0657 and made a new local low at $0.0590.

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📊 Indicators

EMA(7): $0.0591 (below price, but flattening)

EMA(25): $0.0783 (price is far below — bearish divergence)

EMA(99): $0.0768 (confirms long-term bearish trend)

RSI(6): 6.23 → ⚠️ Oversold Zone

Extremely low RSI indicates the asset is heavily oversold. A bounce or small pullback is possible, but not guaranteed.

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🧠 Conclusion

Bearish Momentum Dominates: Strong downward move with no signs of reversal yet.

Oversold Alert: The RSI is at extreme levels; short-term bounce is possible but risky.

Next Support Level: If $0.0590 breaks, the next psychological support is near $0.0500.

Resistance Zones: $0.0657 and $0.0744 (old supports now turned resistances).