Technical analysis by Crypto-By--Ghazi about Symbol CHESS: Buy recommendation (7/18/2025)

The CHESS/USDT chart is currently consolidating in a symmetrical triangle pattern, signaling that a breakout could be imminent. As the price squeezes within converging trendlines, the next move is critical. Will the price push higher or drop lower? Let’s take a closer look at the potential setups. Bullish Breakout Opportunity If the price breaks above the upper resistance at 0.085, this could signal a bullish breakout. A strong move above this level could lead to further upward momentum, targeting levels at 0.095, 0.105, and even 0.115. Placing a stop loss at 0.075 ensures you’re protected if the price fails to maintain the breakout and reverses. Keep an eye on volume—this will be a key indicator to confirm the breakout’s strength. Bearish Breakdown Risk If the price fails to break above the resistance and drops below 0.075, it could signal a bearish breakdown. In this case, consider shorting the market with targets at 0.070 and 0.060. A stop loss just above 0.082 can be used to limit risks. Be sure to monitor volume closely to confirm the move, as low volume can lead to false breakdowns. Pro Tip: Volume plays a crucial role in validating breakouts and breakdowns. Look for a significant increase in volume when the price breaks key levels. A well-executed risk management plan with proper stop losses will help you stay in control no matter which direction the price moves. Stay disciplined and follow the price action closely to make the most out of the upcoming move in CHESS/USDT. Whether it’s an upside breakout or a downside breakdown, this strategy prepares you for both scenarios.