In this Tranchess technical analysis, we will examine the current price action, trading volume, key levels and indicators for CHESS-BTC. Tranchess is a decentralized cryptocurrency that utilizes a unique consensus algorithm called Tranche-based proof of stake (TPoS) which allows for faster and more energy-efficient transactions compared to traditional proof of work (PoW) algorithms. It also features a novel governance system that enables holders of the cryptocurrency’s native token, TRC, to vote on proposals for the development and growth of the Tranchess ecosystem. Additionally, Tranchess has implemented a feature called “Tranches” which allows users to earn rewards in the form of TRC by participating in the validation process of the blockchain.
Tranchess Price Overview:
As of October 02, 2023, Tranchess is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for CHESS-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 219,953.80 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): Tranchess reached a daily high of around 0.0 BTC.
- Low (L): The daily low for CHESS-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, Tranchess is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.92% |
| 3D Change (%) | -5.09% |
| 7D Change (%) | -4.31% |
| 30D Change (%) | 0.22% |
| 90D Change (%) | 0.00% |
| YTD Change (%) | -57.67% |
Over the past three days, CHESSBTC has fallen by approximately -5.09%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.31%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CHESSBTC maintaining an upward trend of approximately 0.22%, despite intermittent fluctuations. Examining the last 90 days, CHESSBTC has witnessed substantial decline of approximately 0.00%, reflecting strong long-term confidence. Year-to-date, CHESSBTC has steadily decreased by around -57.67%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Tranchess Live Chart:
You can access a live price chart for CHESS-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.34978.
- Momentum score is 0.00215.
CHESS BTC Technical Analysis
Tranchess Trading Volume:
The trading volume for Tranchess (CHESS) over the past 24 hours has been insignificant, with approximately 219,953.80 BTC traded against CHESS. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): CHESS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Tranchess is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CHESS-BTC is currently in the neutral zone, around 48.10929. This suggests that Tranchess is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Tranchess (CHESS-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
