$CHESS /USDT Technical Analysis š
Target Achieved: $0.1955
Current Price Action: CHESS/USDT has surged by +10.33%, reflecting a strong bullish breakout. It is currently consolidating near $0.1955, indicating possible continuation of upward momentum.
Next Potential Targets:
1. Immediate Resistance: $0.2020
Breaking above this level could confirm further bullish momentum in the short term.
2. Mid-term Target: $0.2100
A critical level based on previous price action and psychological significance.
3. Long-term Target: $0.2200
Major resistance zone and a significant Fibonacci projection.
Recommendation:
Secure partial profits near $0.1955 to mitigate risk.
Adjust stop-loss to $0.1900 to protect gains.
For aggressive traders, hold positions targeting $0.2020 and $0.2100.
Indicators to Watch:
RSI: Monitor for overbought conditions to gauge pullback potential.
Volume: High volume is necessary to sustain momentum for reaching higher targets.