Tranchess (CHESS) Price Skyrockets 41% Over Binance Futures Listing Announcement

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 29 2024

Should l Buy CHESS?

Tranchess Token Listing: Tranchess (CHESS) has been listed on Binance, allowing users to trade CHESS/USDT perpetual contracts with leverage up to 75x.
Price Surge: Following the announcement of the listing, the price of CHESS surged by nearly 41%.

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Technical Analysis for CHESS

Technical Sentiment Analysis for Tranchess (CHESS) As of , Tranchess (CHESS) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CHESS stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, CHESS is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Tranchess (CHESS) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	-0.0206	-0.00748	0.00648	0.0196	0.0335	0.0467	0.0606
Fibonacci	-0.00748	0.00287	0.00925	0.0196	0.0299	0.0363	0.0467

About CHESS

Tranchess Protocol is the brainchild of Co-Founder Danny Chong and Team. The concept was incepted in 2020 with a team across diverse experiences and roles in tech firms such as Google, Facebook, Microsoft to Investment Banks such as Morgan Stanley, UBS and BNP Paribas.Our tech team is particularly experienced with cyber security in trading and DeFi protocols, their knowledge in smart contract coding is additive to the maintenance and upgrades in years to come.Danny himself had worked at both BNP Paribas and Societe Generale, holding positions across his career from trading, sales and management regionally in FICC space.It is the team’s vision to empower users of DeFi with Omni Asset Management capabilities and contributing to the paradigm shift from Traditional Finance to DeFi. And in time, to offer a full product suite in Asset Management Protocols, tailored for DeFi users across risk capacities and appetites.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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