Market Overview for Tranchess/USDC (CHESSUSDC) on 2025-12-23

Summary
• Price action broke below 0.03280 and tested 0.03230 in early morning ET with a 1.1% 24-hour decline.
• Volume surged at 19:15 ET and again at 04:00 ET, confirming bearish momentum.
• A key 5-minute doji emerged at 05:45 ET near 0.03209, suggesting potential short-term equilibrium.
• RSI dipped to oversold levels below 30 twice during the session.
• Bollinger Bands tightened midday before expanding as volatility returned.

Tranchess/USDC (CHESSUSDC) opened at 0.03314 on 2025-12-22 at 12:00 ET, peaked at 0.03393, and closed at 0.03248 on 2025-12-23 at 12:00 ET. The 24-hour trading session recorded a total volume of 1,348,294.5 and a notional turnover of 42.67 USDC.

Structure & Formations

The 5-minute chart displayed a key breakdown at 0.03280, followed by a consolidation phase between 0.03230 and 0.03250. A bearish engulfing pattern was visible at 08:30 ET, reinforcing the downward bias. A doji formed near 0.03209 at 05:45 ET, signaling a potential short-term pause in selling pressure.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed bearishly around 0.03290, supporting the recent downward trend. Daily moving averages (50/100/200) remain neutral to bearish, with price currently trading below all three.

Momentum & Relative Strength

MACD turned negative in the morning and maintained a bearish divergence. RSI dipped to oversold levels below 30 twice, suggesting potential for a bounce but not a reversal. Stochastic RSI also showed divergence, with the %K line lagging behind %D during the late-night pullback.

Volatility and Bollinger Bands

Volatility contracted between 00:00 and 04:00 ET as price traded in a tight range, then expanded during the morning sell-off. Price closed near the lower Bollinger Band at 0.03248, indicating heightened bearish pressure.

Volume and Turnover

Volume spiked at 19:15 ET and again at 04:00 ET during key breakdowns, confirming bearish momentum. A divergence between price and turnover was observed near 0.03235, hinting at uneven participation in the move.

Fibonacci Retracements

A 5-minute swing from 0.0328 to 0.03235 saw a 61.8% retracement at 0.03261, where price briefly stalled. Daily Fibonacci levels suggest 0.03240 and 0.03218 as key near-term targets.

Looking ahead, CHESSUSDC could find support near 0.03218 in the next 24 hours. A break below this level could target 0.03200, though a rebound into the 0.03260–0.03270 range is possible if short-term buyers step in. Investors should remain cautious of extended bearish momentum and potential volatility spikes.