$1000CHEEMS /USDT (perpetual futures on Binance) shows the price at 0.0000507, down sharply in recent sessions with a -4% drop visible and a steep descending trend on the daily timeframe.

Key indicators paint a bearish picture:

Price trading well below all major EMAs (EMA8 ~0.0000532, EMA13 ~0.0000564, EMA21 ~0.0000622) — strong downtrend confirmation.

Candles forming lower highs and lower lows, with recent consolidation around 0.0000507 after heavy selling pressure.

Stochastic (K~43, D~34, J~59) showing some upward hook but still in oversold territory overall.

RSI (6-period ~35.8, 14-period ~34.2) hovering in oversold zone (<40), hinting at potential exhaustion but no strong bullish divergence yet.

Volume spikes on red candles, with MA5/MA10 on volume indicating sustained selling interest.

This meme coin beast (Cheems pet vibes 🔥) has been bleeding, but oversold RSI + Stochastic crossover setup often signals short-term bounces in volatile alts like this.

TRADE IDEA – SHORT SETUP (Bearish Continuation Expected)

Current Price: ~0.0000507

Enter SHORT now or on retest of 0.0000510–0.0000520 resistance zone.

🎯 Take Profit Levels:

1st TP: 0.0000463 (recent low/support break target) ~8–9% gain

2nd TP: 0.0000430 (extended downside) ~15%+ potential

🛑 Stop Loss: 0.0000575 (above EMA cluster/resistance) — risk ~13% invalidation if bulls push back hard.

Meme coins can flip fast — high risk, high reward! Use proper leverage (low for safety), manage position size. DYOR & trade responsibly.

$1000CHEEMS could see more downside before any real reversal. Who's riding this wave? Drop your thoughts below! 🚀🐶

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