TL;DR Breakdown
- CHZ price has reached $0.478 limit.
- Chiliz price analysis confirms bullish lead.
- Support is prominently strong at $0.231.
The bulls have been able to overpower the bearish momentum as an increase in price has been recorded as per Chiliz price analysis. The uptrend has been getting stronger for the past few days, and today the price managed to escape the resistance present at $0.475. The price is now at the $0.478 level and it is expected that it will soon move on to higher levels in the upcoming week. Further recovery is possible only if the support remains strong at $0.23.
CHZ/USD 1-day price chart: Price hits $0.478 high as bullish trend aggravates
The one-day Chiliz price analysis is confirming an upward trend for the day as an increase in price has been reported. The price has been constantly turning to higher points since the past few weeks, as the bulls have been trending. Today, a significant rise in price was observed as the price moved on to $0.478 height. This is a highly encouraging sign for the buyers as the price has gone quite higher than the moving average (MA) value i.e. $0.392.
A crossover occurred between SMA 20 and SMA 50 curves in the earlier weeks as well, which is a major bullish hint. The upper value of the Bollinger bands indicator has increased up to $0.475 whereas their lower value has dropped to $0.231.The Relative Strength Index (RSI) score is now touching the 64.40 mark.
Chiliz price analysis: CHZ value falls back to $0.479 as bears exhibit control
The cryptocurrency price is following a downtrend for the four hours price chart as the price has undergone a considerable amount of decline. Although the bulls were at lead earlier, the last four hours have seen a huge loss in CHZ value. The price has stepped down to the $0.479 level after the bears took control over the market. The price is still standing above the moving average value which is present at $0.468.
The volatility has decreased which means that the price might undergo recovery soon. The Bollinger bands average has increased to $0.449, where their upper value is at $0.538 and the lower value is at $0.361. The downfall in price has lowered the RSI score to 60.72, which is still a high number.
The bulls have been leading the price charts for the past few weeks which is further confirmed by the technical indicators chart. There is a bullish signal for the day with 15 indicators on the buying position, nine indicators on the neutral position, and two indicators on the selling position.
The moving averages indicator is indicating a bullish signal as well because of the strong rise in price. We can see that 13 indicators are occupying the buying position, while one indicator is present on selling and neutral positions each. The Oscillators are showing a neutral trend for the day. There are eight oscillators at the neutral level, two oscillators at the buying level, and one oscillator at the selling level.
Chiliz price analysis conclusion
The Chiliz price analysis suggests the past few weeks have proved highly profitable for the cryptocurrency as the price has followed bullish movements. The price has increased up to $0.478 in the last 24 hours as well as the bullish momentum has been strengthening up. The four hours price chart, on the other side, is giving negative signs to the buyers as the upcoming few hours might prove unfavorable.
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