CHZ Technical analysis: It Keeps Well And Will Shoot Hard
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On the other hand, sellers gritted their teeth in the upper trend line of the consolidation wedge. Thus, the range of price movements is constantly reduced, which will lead to an explosion. At the time of writing, the probability of a CHZ price shooting up is much higher than the continuation of the downward trend. However, the CHZ price can easily continue to consolidate until mid-June. But, it should be understood that the longer the price consolidates, the stronger the momentum will be in the future. The main growth target is $0.62. At this point, it will be clear whether the CHZ market will face the historical high update and the formation of a new global fall wave.
Technical Analysis Of CHZ On The Daily Timeframe
The positive chart of the weekly timeframe does not mean that the market reversal and total domination of buyers will begin at the same moment. Analyzing the movement of the CHZ price on the daily timeframe, we can see that buyers failed to break the structure of the downward trend. Local highs set by buyers on 29-30 March did not update previous local highs from 27 December. The main requirement to start dominating buyers is not to allow sellers to update the low.
In this case, the structure of the seller's trend will be destroyed and investors will be more interested in investing in the CHZ cryptocurrency. Therefore, if the CHZ price does not stay below $0.168 for the next 2 weeks, it will be a clear signal to buy.
The CHZBTC Price Are Preparing To Fall By 10-15%
The situation on the CHZBTC weekly chart is very similar to the CHZUSDT chart. The price is in a global wedge and has a probability of falling by 10-15%. If buyers keep the liquidity range 0.0000451 and do not allow the CHZBTC price to catch the lower trend line of the consolidation wedge - this will be a signal to complete the correction. While the price is above the mark of 0.00000451 and there are no signs of sellers fixing below this mark - to plan an alternative scenario does not make sense.
