CHESSUSDT Consolidates Above 200-SMA, Eyes Potential Upside
$CHESS

CHESSUSDT is currently trading at $0.1564, with a slight decline of -0.51%. The price is fluctuating between the $0.140 support level and the $0.180 resistance level, indicating a consolidation phase after a recent price increase. The price is currently above the 200-period moving average at $0.1499, signaling a bullish bias. The VWAP at $0.1566 is slightly above the current price, reinforcing a neutral sentiment, with a slight edge towards a potential bullish breakout.

The RSI is at 54.09, indicating neutral conditions, suggesting there is room for the price to move in either direction. However, it may see some resistance if the price tests the upper range of $0.180.

The MACD line is at 0.0008, with the signal line at -0.0013, signaling weak bullish momentum. The histogram shows slight positive bars, indicating that while the momentum is positive, it remains relatively weak, and the price could continue to consolidate before a decisive move.

Key support levels are around $0.140. If the price breaks below this level, the next target could be around $0.120. Conversely, a break above $0.180 could lead to a rally toward $0.200 or higher.

Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions

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