The
$CHESS USDT chart is showing a sharp -23.36% dump in the last 24 hours, dropping from highs near $0.02794 to current price $0.01906! 😱 Heavy red candle on 1D timeframe, breaking below key supports with massive volume spike on the downside.
Bearish signals everywhere:
Price crashed through BOLLINGER middle & lower bands
MACD deep negative, histogram expanding red
RSI(14) at ~20.68 – heavily oversold territory
Stochastic low and curling
Long/Short ratio skewed to longs (~80% long positions in some metrics), meaning potential squeeze if shorts pile in
Overall downtrend: -37% (7d), -52% (90d), brutal -84% over 1 year
This looks like capitulation selling – classic setup for a bounce in oversold altcoins like
$CHESS (Tranchess governance token)!
TRADE IDEA: LONG
$CHESS USDT NOW! 🚀
Buy at current levels ~$0.0190
Take Profit 1: $0.0225 (+18%)
Take Profit 2: $0.0270 (+42%)
Stop Loss: $0.0165 (-13%) – tight below recent low to manage risk
High risk/reward if reversal kicks in from oversold + potential short squeeze. Volume supports interest, don't miss the rebound!
Trade smart, use leverage wisely ⚠️ DYOR & NFA
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#LongPosition