Best Buy: 20% Gains with CHZ? – CoinAero

CoinAero
3 Min Read


Chiliz is a digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement & rewards platform Socios.com.

 Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.

For on-demand analysis of any cryptocurrency, join our Telegram channel.

Chilliz Crypto Price Analysis

  • Price: $0.05
  • Market Cap: $468.32 million
  • 24h Trading Volume: $22.25 million
  • Circulating Supply: 8.89 billion CHZ
  • Total Supply: 8.89 billion CHZ
Chilliz Crypto Price Analysis
Img src- Altfins

Price is in a downtrend, however, it had a bullish breakout from Falling Wedge pattern and above $0.055 key level, which could signal at least a temporary bullish trend reversal with +20% upside potential to $0.067 next. S

top Loss at $0.049. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.

Weekly Price Analysis

  • 7-Day Price Change: -1.41%
  • Weekly Open Price: $0.051
  • Weekly High/Low: $0.0527 / $0.05
  • Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
  • Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
  • Support and Resistance: Nearest Support Zone is $0.043. Nearest Resistance Zone is $0.067, then $0.08.

Technical Indicators

  • Relative Strength Index (RSI): 46 (Neutral)
  • MACD: Slightly bearish, indicating potential downward momentum
  • Bollinger Bands: Price close to the lower band, suggesting a possible oversold condition

News Roundup

  • Fan Engagement: Chiliz continues to dominate the sports and entertainment sector, allowing fans to interact with their favorite teams through the Socios platform.
  • Adoption: CHZ remains a popular choice for sports organizations, with partnerships expanding globally across major sports teams.

Market Indicators

  • On-chain Data: Increase in fan token trading volume indicates growing interest in blockchain-based fan tokens engagement.
  • Market Sentiment: Slightly bearish due to recent price declines, but long-term prospects remain strong with ongoing partnerships.

For on-demand analysis of any cryptocurrency, join our Telegram channel.



Source link

Share This Article
Leave a comment

Leave a Reply