CHESS Coin Analizi


1. Support and Resistance Levels:


• Support Levels:


• 0.1915


• 0.2005 (psychological support)


• Resistance Levels:


• 0.2062


• 0.2138


• 0.2440 (main resistance zone)


• 0.2765 (target resistance)


2. Formation and Technical Structure:


• There is a falling wedge formation on the chart. This formation usually creates bullish expectations.


• It is observed that the price reacted upwards from the lower limit of the wedge. If an upward break occurs, a movement towards the 0.2138 and 0.2440 resistance levels can be expected.


3. Trend Direction:


• Short Term Trend: Unstable and sideways.


• Medium Term Trend: The falling channel continues, but there is potential for a breakout.


4. Indicators:


• Moving Averages (MA):


• The 50 MA is below the 200 MA, indicating short-term bearish pressure.


• RSI: Neutral, not overbought or oversold. Momentum could be supported if there is an upward break in the RSI.


• Volume: When a breakout occurs, an increase in volume should be expected. A breakout without volume can be misleading.


5. Objectives:


• First target: 0.2138


• Second target: 0.2440


• Long-term target: 0.2765 (formation target)


6. Strategy:


• Short Term Buy: Buying can be done at closing levels above 0.2005. Stop-loss level should be below 0.1915.


• Medium Term Investment: Position can be increased by breaking the 0.2440 resistance. Closing above this level can strengthen the upward momentum.


• Stop-Loss: Closings below 0.1915 should be monitored carefully.


7. Comments and Recommendations:


• The price is currently in a squeeze zone. Although the falling wedge formation creates an expectation of an upward breakout, a transaction should not be opened before an increase in volume is observed.


• Volatility may increase depending on the general market trend, so attention should be paid to stop levels.


• Risk management should be given importance when making investment decisions.