$CHESS is trading in a compressed range after the sharp sell-off from the 0.0088 area. The breakdown was impulsive, but the move into the 0.0049 low was followed by stabilization rather than continuation, suggesting selling pressure has largely been absorbed. Price is now holding around 0.0053, forming a short-term base.

Trade Setup (Long):

Entry: 0.0050 – 0.0053

Targets: 0.0059 — 0.0065 — 0.0072

Stop-Loss: 0.0046

The structure shows a classic sell-off followed by range compression. RSI remains in the lower zone, indicating downside momentum has cooled, while MACD is flattening near equilibrium, reflecting reduced bearish pressure. Volume expanded on the drop and has since normalized, which supports consolidation rather than further acceleration down. Holding above the 0.0049 support keeps the structure intact for a potential recovery toward the upper range.