【$CHESS Signal】Long | Healthy Consolidation After Explosive Breakout

$CHESS After completing an explosive breakout on the 4-hour chart, the price is now consolidating tightly below the previous high resistance zone. The price is oscillating within the 0.0288-0.0297 range, with buying pressure continuously absorbing the pullback, and no large-scale profit-taking selling pressure has appeared. Combined with open interest (OI) increasing in tandem with the price rise, this suggests that the main force is entering the market to push higher, rather than purely short sellers stepping on the brakes. This healthy reset is preparing for the next upward surge.

🎯 Direction: Long

🎯 Entry: 0.0290 - 0.0295

🛑 Stop Loss: 0.0278 ( Rigid stop loss, below the previous breakout candle's low)

🚀 Target 1: 0.0320

🚀 Target 2: 0.0345

Depth Logic: The key point is the massive bullish candle on the 4-hour chart (volume 407 million), which broke through multiple resistance levels formed by previous highs. Subsequently, the price moved sideways at a high level, with volume shrinking, but without a deep pullback, indicating that selling pressure is exhausted. The current order book depth shows that ask orders are heavily stacked above 0.0298, which is a clear short-term resistance. Our entry point is around the upper half of the breakout candle and the lower boundary of the consolidation zone, with stop loss set below its opening price to filter out false breakouts. As long as the price can hold above 0.0290 and absorb the thin sell orders above, breaking the previous high of 0.0322 is highly probable. This is a typical “breakout - consolidation - further breakout” price action model.

Trade here 👇 $CHESS

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