๐#CHESSUSDT has recently broken out above the descending resistance of the descending channelโa major technical milestone. This breakout provided bullish momentum but faced a profit-taking wave at the $0.28 supply zone. Currently, the asset is coming down to retest its key support.
๐The $0.2814โ$0.3132 level stands as the immediate barrier for #CHESSUSD's sustained rally. A daily candle close above this zone would confirm a breakout, opening the doors for a potential bullish run toward the resistance levels at $0.4000โ$0.4500. This zone has historically attracted significant selling pressure, so expect a battle between bulls and bears at these levels.
๐On the downside, the $0.1643โ$0.1206 region is a critical demand zone for #CHESS. If prices fail to maintain momentum and retreat, this area is likely to provide strong support, offering buyers a potential re-entry opportunity.
๐A daily close below $0.1206 would invalidate the current bullish outlook. Such a move could trigger a deeper correction, driving prices toward sub-$0.1000 levels, effectively resetting the structure and catching over-leveraged longs off guard.
Stay focused, patient, and disciplined, Paradisers๐ฅ
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๐Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! ๐๐ธ