Am I able to give away just released games with my current level

You can give away whatever you want, for your group, as long as it is in the game list when you create the giveaway. If the game has not been released yet, but is on the Steam Store as a placeholder/preorder, Steamgifts support staff might be able to add it by request.

I have never heard of a rule that says you can't give something away.
As long as you have the game to give it to the winner, you are free to give away anything you wan't at any time you want.

You can give whatever game away you want, new or old, even if the game is no longer available for purchase on steam

It's a lot easier to give away keys cause of when it comes to steam gifts you have the issue of regional price differences of like higher than 10% not being allowed so you'd have to account for that with region restrictions

keys can also have region restrictions but there's no issue with regional price differences

It doesn't matter which games you give away, so you can even start with a AAA title which came out on the same day or will be released in the future only.

The only problem that could occur is, that the game isn't listed so far here on SG. In this case you need to create a support ticket, so they can add the game. But "The Chant" is already listed.

At start you can giveaway just limited amount of games. More games you giweaway and are marked as Recieved, more game you can post at once. When you crate giweaway, there is comment at top of page like this " You're able to create up to 234 additional gifts based on your giveaway feedback." As you see, I can post 234 games at once.

As long as it is a Steam Gift or Steam Key, you are good. :D

You don't have to worry about the game, as long as it is on steam and it exists (even if delisted for whatever reason).
Now, if you want to giveaway 1 game per day, for example, you only need to be level 0/1. But if you want to giveaway like 50 games for whatever reason at the same time, you need to be a higher level.
I'm not sure if there's also a limit for the amount of copies you can giveaway at the same time (and if it exists, its really high I assure you), so if you want to giveaway the same game you can. It wont count the same amount for your CV level, but you're probably not too worried about it so it doesnt rly matter.

Thank you so much all for helping me out with this information! ☺

As the game will be given away in this month's Alienware Arena game vault CV might be reduced or set to zero if SG mods do their homework. Please keep that in mind.

You can immediately give away whatever is listed/reconized by the site from Steam. Penalization may come from mods if the giveaway doesnt follow the guidelines or in the form of blacklist from users. For example, you can get suspended for fake giveaways and users may dislike giveaways of overpriced games to exploit contribution value.

hi mom