Market Overview for Tranchess/USDC (CHESSUSDC)

Summary
• Price tested key support near 0.03076 but rebounded with increasing volume.
• Momentum reversed from bearish to bullish as RSI exited oversold and MACD crossed above zero.
• Volatility expanded in the early hours, with Bollinger Bands widening past 0.0318.
• Large bullish volume near 0.0314–0.0318 confirmed a reversal pattern.
• Fibonacci 61.8% level at 0.03176 appears to be a strong support zone.

At 12:00 ET–1 on December 17, 2025, Tranchess/USDC (CHESSUSDC) opened at 0.03102, reached a high of 0.03366, fell to a low of 0.03074, and closed at 0.03203 by 12:00 ET. Total 24-hour volume was 1,119,522.2, while turnover (notional value) amounted to approximately $34,922.35.

Structure & Formations

Price found strong support near the 0.03076 level, which coincided with a 61.8% Fibonacci retracement of a prior bearish move. A bullish engulfing pattern formed as the price rebounded from this level. Later in the session, a bullish divergence appeared between price and RSI, suggesting a potential shift in momentum.

Moving Averages and Momentum

The 20- and 50-period moving averages on the 5-minute chart crossed into bullish territory by midday, reinforcing the upward trend. RSI moved out of the oversold zone and approached neutrality, while MACD crossed into positive territory, signaling a possible continuation of the rally.

Volatility and Volume

Volatility expanded significantly in the early morning hours, with a sharp widening of Bollinger Bands as price broke out of a consolidation range. High-volume candlesticks near 0.0314–0.0318 confirmed the bullish reversal. However, volume in the last few hours has declined, suggesting a potential pause in the move.

Looking ahead, the price may test resistance at 0.0327, with a risk of a pullback if volume does not confirm the move. Investors should remain cautious as the market may consolidate before breaking decisively higher or lower.