CHESS/USDT – Breakout Confirmed, Bullish Structure in Play

CHESS has officially broken out of a long-term descending trendline and a multi-week consolidation base. This signals the end of a prolonged downtrend and the beginning of a potential bullish expansion.

Technical Analysis:
Breakout: Price broke above the falling trendline and horizontal range ($0.07–$0.085), confirming a bullish structure.

Structure: Ascending triangle breakout + clear higher lows and higher highs forming.
Volume: Strong breakout candle with above-average volume suggests follow-through potential.
Retest Zone: Previous resistance near $0.085 now acting as support, offering a possible re-entry zone.

Key Levels:
Support Zones
$0.085 – Previous resistance, now flipped support
$0.070 – Ascending trendline zone
$0.056 – Range base and invalidation zone

Resistance / Target Levels
$0.100 – Minor psychological round number
$0.121 – Previous consolidation resistance
$0.173 – Key breakout target
$0.276 – Macro bullish target if trend continues

Trade Plan:
Entry: Any retest between $0.085–$0.090
Stoploss: Below $0.070 (conservative) or tight below $0.078 (aggressive)
Targets: $0.100 → $0.121 → $0.173 → $0.276

Risk Management: Use proper position sizing; invalidation below $0.070

This breakout appears structurally clean and may offer a strong follow-up if market conditions remain favorable. Ideal for both short-term swing and medium-term positional setups.

Not Financial Advice | DYOR Always