$CHESS Market Update

CHESS/USDC trades near 0.00545 with a 25% decline over 24 hours. Price action shows selling pressure but nearing demand zones.

Market Overview

Momentum is bearish short-term, but price compression near support could lead to volatility expansion. Market participants should watch for base formation.

Key Support Levels

0.00520 – Immediate support

0.00490 – Strong buying zone

Key Resistance Levels

0.00590 – Recovery resistance

0.00640 – Trend reversal confirmation

Trade Targets

Above 0.00520 holding strong:

Target 1: 0.00590

Target 2: 0.00640

Below 0.00520 breakdown:

Downside risk toward 0.00490

Pro Tips

Patience is key in corrective markets. Wait for structure confirmation rather than predicting bottoms. Risk no more than a small percentage per trade.