Technical Analysis for CHESS/USDT

Current Price: $0.1682

Price Change: +8.31% in 24h

Key Levels:

Support Levels:

1st Support: $0.1682 (Current Price)

2nd Support: $0.1428

3rd Support: $0.1183

Resistance Levels:

1st Resistance: $0.1883 (Recent High)

2nd Resistance: $0.1917

3rd Resistance: $0.2000

Trading Signals:

1. Buy Signal:

Entry Point: $0.1700 (if price bounces from support at $0.1682)

Stop Loss: $0.1420 (below the 2nd support)

Take Profit: $0.1883 (first target at resistance)

2. Take Profit Levels:

Target 1: $0.1883 (set sell order)

Target 2: $0.2000 (if momentum continues)

Target 3: $0.2100 (aggressive target if bullish trend persists)

3. Sell Signal:

Entry Point: $0.1883 (if price reverses from resistance)

Stop Loss: $0.2000 (above the 2nd resistance)

Take Profit: $0.1682 (targeting recent support)

Analysis Summary:

The CHESS/USDT pair has shown bullish momentum, with the price currently trading above key support levels. Monitor for a bounce off the support level at $0.1682 for potential buying opportunities. If the price fails to break above the resistance at $0.1883, consider shorting at that level.

Final Thoughts:

Always stay updated with market news and adjust your trading strategy as needed. Use proper risk management techniques and only trade with funds you can afford to lose.

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