📊 CHESS/USDT | Accumulation below the key moving averages – Awaiting direction

It appears that the price is trading below the key moving averages: MA(7) 0.02858, MA(9) 0.02954, and MA(99) 0.03501 – indicating short-term bearish pressure.

Volume is moderate, suggesting a phase of accumulation or distribution.

Holding below 0.029 → Risk of drop to 0.028 → 0.027.

Breaking above 0.0295 → Potential bounce towards resistance MA(99) 0.035.

✅ Trading Plan

Entry for Sell: 0.0288–0.0286 (on slight rebound)

First Target: 0.0280

Second Target: 0.0270

Stop Loss: Above 0.0296

Note: Price is below the averages – bias is bearish until MA(9) is regained.

📌 Trapped in range with bearish bias – Sell on rallies towards resistance.

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$CHESS

CHESS

0.02489

+2.47%