Chessusdt Trading opportunity

CHESSUSDT appears to be trading within a descending channel formation, it seems to have completed a five descending legs. This observation gives us a strong bullish bias for the coin, as we are now anticipating a breakout to the upside in the near term.

To capitalize on this potential upward movement, we have identified a possible accumulation zone. This zone is selected based on historical support levels and the lower boundary of the descending channel, which traders may consider as an entry point for long positions. To manage the inherent risks of trading, we suggest placing a stop loss just below the most recent swing low within the channel.

Furthermore, we have outlined specific profit target levels on the chart. These targets are based on key resistance levels that could be encountered as the price ascends post-breakout.

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Trade active

Trade active

Trade active