Market Overview for Tranchess/USD Coin (CHESSUSDC): 2025-09-05

• Price surged from 0.06851 to 0.07197, showing a sharp bullish reversal after a consolidation phase.
• High volume spikes confirmed key bullish moves in the early morning (0215–0245 ET).
• RSI near overbought territory and a bullish MACD crossover suggest momentum is intact.
• Bollinger Bands show expansion in the last 4 hours, signaling increased volatility.
• Downturn volume remains low; buyers appear dominant, especially post-0400 ET.

The Tranchess/USD Coin (CHESSUSDC) pair opened at 0.06851 on 2025-09-04 at 12:00 ET and closed at 0.07197 by 2025-09-05 12:00 ET, registering a 24-hour high of 0.07201 and a low of 0.06839. The total volume across the 24-hour period amounted to 27,867.6 units, while notional turnover reached approximately $1,963.00 (based on average price of ~$0.0706).

Structure & Formations

The price action over the past 24 hours shows a strong bear-to-bull reversal, particularly from 0400–0800 ET, where a clear bullish engulfing pattern formed after a consolidation phase. Key support levels have been identified around 0.06847–0.06872 and 0.06906, which held during bearish attempts. Resistance is now at 0.0714–0.07201, with the 0.0714–0.07201 range acting as a potential consolidation area before the next move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward and the price is above both, indicating a bullish bias in short-term momentum. On the daily chart, the 50-day and 200-day moving averages are not explicitly available in the 15-minute data, but the 100-period MA would likely be near 0.0700–0.0705, suggesting the current price is above its mid-term trend line.

MACD & RSI

The MACD line crossed above the signal line during the 0400–0430 ET period, confirming a bullish crossover. The RSI moved above 60, with a recent peak near 67, indicating strong upward momentum, though not yet overbought. The MACD histogram has shown consistent expansion since 0400 ET, suggesting the bullish move is gaining strength rather than exhausting.

Bollinger Bands

Bollinger Bands have expanded in the last 4 hours, reflecting an increase in volatility. The upper band has hovered near 0.0720–0.0725 during that period, and the price has stayed within the upper and middle bands, indicating a strong uptrend phase. A break above the upper band could signal a continuation of the bullish momentum.

Volume & Turnover

The most significant volume spikes occurred during the 0215–0245 ET period, where a large buy order pushed the price from 0.07006 to 0.0705. Additional volume confirmation came in during 0400–0800 ET, where the price climbed sharply from 0.07054 to 0.07201. The volume-to-price divergence was minimal, indicating buyers have been consistent in pushing the price higher without significant resistance.

Fibonacci Retracements

Applying Fibonacci retracement to the recent swing from 0.06839 (low) to 0.07201 (high), key levels at 38.2% (~0.07015) and 61.8% (~0.06969) appear to have acted as psychological and technical support levels. The price has bounced off the 61.8% level a few times in the 15-minute chart before breaking out to new highs. These levels may now serve as potential resistance on a pullback.

Backtest Hypothesis

The backtest strategy involves entering long positions when the 20-period MA crosses above the 50-period MA on the 15-minute chart, with a stop-loss placed below the most recent support level and a take-profit at the nearest Fibonacci retracement level. This strategy appears to be aligned with today's price action, especially between 0400–0800 ET, where the MA crossover coincided with a strong price increase. Given the low volume during bearish attempts and the consistent RSI and MACD confirmation, the strategy has a strong probability of success in capturing the continuation of the current bullish trend.