Market Overview: Tranchess/USDC (CHESSUSDC) 24-Hour Price and Sentiment Analysis

Summary
• Price tested and held above a key support level of $0.03007 after a sharp midday decline.
• Volume surged in the early morning hours, confirming a bearish reversal pattern.
• RSI and MACD signaled weakening momentum, with RSI hovering near oversold levels.
• Bollinger Bands showed low volatility contraction before the 06:00 ET breakout.
• A bullish flag pattern emerged after the 09:00–11:00 ET consolidation period.

At 12:00 ET on 2026-01-18, Tranchess/USDC (CHESSUSDC) opened at $0.031 and closed at $0.03032 after reaching a high of $0.031 and a low of $0.03007. Total 24-hour trading volume was 26,461.15 and notional turnover was $794.57.

Structure & Formations

The price formed a bearish reversal pattern around 00:15–02:45 ET, breaking below a key horizontal support at $0.03007. Later in the day, a bullish flag pattern emerged between 09:00–11:00 ET, followed by a breakout above the consolidation range. The 20-period 5-minute EMA hovered just above the 0.0302 level, suggesting a possible support area for near-term buyers.

Moving Averages

On the 5-minute chart, the 20-period and 50-period EMAs remained relatively flat, reflecting low volatility during the overnight session. The 50-period daily MA is currently at $0.0305, acting as a dynamic resistance level. Price appears to be approaching the lower end of the Bollinger Bands, indicating a potential short-term bounce.

MACD & RSI

MACD turned negative after 00:00 ET, signaling bearish momentum that continued into the early morning. RSI fell into oversold territory near $0.03009 by 06:00 ET, hinting at a potential short-term rebound. However, the lack of bullish divergence suggests bearish sentiment may persist.

Volatility & Turnover

Volatility remained low until 00:00 ET, when price broke through key support and triggered a spike in volume. The largest 5-minute turnover occurred between 02:45–03:00 ET, where $176.0157 was traded. A divergence emerged between price and turnover after 06:00 ET, as volume dropped despite a minor price increase, suggesting waning buyer interest.

Fibonacci Retracements

A retracement analysis of the 00:00–02:45 ET move identified $0.03023 (38.2%) and $0.03007 (61.8%) as key levels. The price stalled briefly at $0.03023 before continuing lower, suggesting the 61.8% level acted as a psychological floor.

Tranchess/USDC may test the $0.03032–0.0305 range in the next 24 hours, with potential for a short-term bounce if buyers re-enter. Investors should remain cautious due to the low volume and bearish divergence in momentum indicators.