In this Tranchess technical analysis, we will examine the current price action, trading volume, key levels and indicators for CHESS-USDT. Tranchess (CHESS) is a decentralized finance (DeFi) token that utilizes the power of blockchain technology to facilitate peer-to-peer lending and borrowing. With its innovative smart contract architecture, CHESS enables users to access a wide range of financial services without intermediaries, thereby reducing costs and increasing efficiency. By leveraging the security of the Ethereum network, CHESS provides a safe and reliable platform for individuals and institutions to participate in the global financial marketplace.
Tranchess Price Overview:
As of May 08, 2024, Tranchess is trading at approximately 0.1846 USDT. Let’s dive into the detailed price action for CHESS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.185 |
| High (H) | 0.1858 |
| Low (L) | 0.1793 |
| Close (C) | 0.1846 |
| Volume (C) | 3,557,418.40 |
- Open (O): The opening price for today’s trading session was approximately 0.185 USDT.
- High (H): Tranchess reached a daily high of around 0.1858 USDT.
- Low (L): The daily low for CHESS-USDT was approximately 0.1793 USDT.
- Close (C): At the time of analysis, Tranchess is trading near its daily close of 0.1846 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.32% |
| 3D Change (%) | -3.00% |
| 7D Change (%) | 1.93% |
| 30D Change (%) | -35.99% |
| 90D Change (%) | 2.05% |
| YTD Change (%) | -19.63% |
Over the past three days, CHESSUSDT has declined by approximately -3.00%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.93%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CHESSUSDT maintaining a downward trend of approximately -35.99%, despite intermittent fluctuations. Examining the last 90 days, CHESSUSDT has witnessed substantial rise of approximately 2.05%, reflecting strong long-term confidence. Year-to-date, CHESSUSDT has steadily decreased by around -19.63%, 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-USDT 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 0.64248.
- Momentum score is -0.07792.
CHESS USDT Technical Analysis
Tranchess Trading Volume:
The trading volume for Tranchess (CHESS) over the past 24 hours has been insignificant, with approximately 3,557,418.40 USDT 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-USDT is currently in the low zone, around 42.27212. This suggests that Tranchess is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Tranchess (CHESS-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for Tranchess (CHESSUSDT) at 1.85e-01 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.
Missing our detailed breakdown on CHESS BTC Tranchess Technical Analysis would be a lost opportunity if you found value in this post.
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.