【$CHESS Signal】Long | Healthy Pullback After Volume Breakout

$CHESS After a volume breakout above the previous high on the 4-hour chart, the price is undergoing a healthy pullback and consolidation. The price is strongly ranging between 0.025-0.027, with buying pressure continuously absorbing selling pressure, and no obvious top distribution pattern has appeared. Although the funding rate is high, it is not extreme; open interest rises with the price, indicating that main players are entering rather than purely short sellers stepping on the brakes. The order book depth shows sparse sell orders above, so resistance after the breakout is relatively low.

🎯 Direction: Long

🎯 Entry: 0.0270 - 0.0275

🛑 Stop Loss: 0.0249 ( Rigid stop loss, below the key support and previous high)

🚀 Target 1: 0.0300

🚀 Target 2: 0.0325

Hardcore logic: After breaking through the 0.025 key resistance, the price did not drop sharply in a V-shape but instead consolidated narrowly above the breakout level. Four consecutive 4H candles closed above 0.025, forming a strong support confirmation. Volume remained high during both breakout and consolidation phases, indicating sustained turnover and accumulation. Psychologically, this is a typical “breakout - pullback - confirmation” pattern. The potential retracement pressure caused by high funding rates has been effectively absorbed by buy orders in the market. The stop loss is set below the previous high, offering an advantageous risk-reward ratio, consistent with probabilistic trading principles.

Trade here 👇 $CHESS

---

Follow me: Get more real-time analysis and insights into the crypto market!

‍#Gate广场创作者新春激励

#Is the current market bottoming out or just watching and waiting?