$CHESS /USDT – Accumulation Zone & Bounce Potential
Guy's check results .. $CHESS is testing multi-month lows and showing signs of defense near critical support.
CHESS is trading at $0.03743 (-0.93%) on the spot market, after touching a 24h low of $0.03618. Trading volume remains moderate, but fundamental drivers—specifically the ongoing token buyback program and over 18% of supply locked—are key factors supporting the current demand zone. The immediate risk is the technical breakdown below key moving averages, coupled with Binance adding the Monitoring Tag to CHESS today (Dec 1st), signaling high volatility and increased risk.
Trade Plan (Long - Reversal Setup)
Entry Zone: 0.0370 – 0.0380
TP1: 0.0400
TP2: 0.0425
TP3: 0.0450
SL: Below 0.0360
Momentum is weak but the price is at a strong demand level. Only enter this trade with strict risk management and low leverage, acknowledging the high-risk Monitoring Tag status. A confirmed close above 0.0385 is needed for short-term bullish confirmation.
