menuIcon
$ 82,469.2
BTC
$ 82,469.2
-1.55 %
$ 1,814.85
ETH
$ 1,814.85
-3.28 %
$ 0.6665
ADA
$ 0.6665
-4.52 %
$ 601.36
BNB
$ 601.36
-2.50 %
$ 123.94
SOL
$ 123.94
-3.37 %
Vikram
Jul 27, 2022
by Vikram

CHZ Technical Analysis: Can Buyers Uphold Prices Above $0.10?

CHZ Technical Analysis

Table of contents

  1. CHZ Technical Analysis
  2. Upcoming Trend
The CHZ prices attempt for a bullish turnaround from the support trendline of the rising channel to maintain a market value above $0.10.

Key Technical Points:

  • The CHZ prices jumped by 2.33% in the last 24 hours.

  • The resign channel pattern struggles to keep the market value of the Chiliz token above $0.10.

  • The 24-hour trading volume of Chiliz is $48.75 million, indicating a drop of 20%.

    • Past Performance of CHZ

    As mentioned in our previous analysis, the CHZ prices continue to struggle and maintain above the $0.10 mark. However, taking a different technical approach, we will look at the rising channel formed in the daily chart. Currently, the market price rests at the confluence of the support trendline and the 50-day SMA in hopes of a bullish turnaround.

    TradingView Chart

    Source - Tradingview

    CHZ Technical Analysis

    If the declining trend in the trading volume continues, the CHZ prices will crack below the support confluence and reach the $0.08 horizontal level. However, a spike in buying pressure will help bulls take a U-turn and keep prices above $0.10.

    The market value of the Chiliz token is close to the 50-day SMA that is preparing to launch a bull run. But the bullish reversal within the rising channel will confront bearish opposition from the 100-day SMA at $0.12.

    The MACD and signal lines join after the bearish attack and regain the bearish alignment teasing a downtrend below the support trendline. However, the RSI indicator remains in a sideways trend, and the chart shows no indications of a bearish divergence, which raises the likelihood of an eventual reversal.

    In a nutshell, the technical indicators have opposing views, while the CHZ price analysis requests traders to wait for a candle-closing confirmation.

    Upcoming Trend

    The CHZ prices have the potential to boost by 20% to reach the $0.12 mark with a bullish reversal within the channel. But, a downfall below the support trendline could result in a drop to the $0.08 mark.

    Resistance Levels: $0.12 and $0.15

    Support Levels: $0.10 and $0.08

    Follow us on: News
    Chiliz CHZ CHZ technical analysis
    CHZ Technical Analysis: Can Buyers Uphold Prices Above $0.10?
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

    Top Picks