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Chiliz price analysis: CHZ bleeds to lows of $0.2640 as bears rule the charts

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TL;DR Breakdown

  • Chiliz price analysis indicates a bearish trend
  • CHZ prices have sought support at $0.2803
  • Chiliz prices are down by 9.10 percent
Chiliz price analysis: CHZ bleeds to lows of $0.2640 as bears rule the charts 1
Cryptocurrencies prices heatmap, source: Coin360

The Chiliz price analysis for today shows a sloping downtrend that has seen Chiliz prices trading at lows of $0.2828. Chiliz prices are facing a severe downtrend as prices shed 9.10 percent in value. The bears continue to dominate the market with very little hope of a reversal in prices any time soon. The support for Chiliz can be found at $0.2803 which is also where prices have been consolidating over the past few days. A break below this support could see CHZ dropping to lower levels. The next key support level is $0.2705.

The overall decrease in Chiliz prices has been attributed to the present buying pressure seen in the market as bears try to pull back prices to lows of $0.2705. CHZ trading volume has as well dropped significantly over the last 24 hours, standing at $603,018,487.41. The market cap currently stands at 1,702,638,089.24 while CHZ prices dominate 0.08 percent of the entire digital assets market. The current sentiment in the market does not favor Chiliz prices and it is likely that we will see more downside in the days to come. The key resistance levels to watch out for are $0.2927 and $0.

Chiliz price action in the last 24 hours: Bears target $0.2705 as support

Chiliz prices have been on a downtrend in the last 24 hours, with the bears targeting $0.2705 as support. The current sell-off in the market has seen CHZ prices trade below the Ichimoku cloud, with the Tenkan (red) line crossing below the Kijun (blue) line. This signals a continuation of the downtrend in prices.

Chiliz price analysis: CHZ bleeds to lows of $0.2640 as bears rule the charts 2
CHZ/USD 1-day price chart,source: TradingView

The Relative Strength Index (RSI) is currently at 30, which shows that there is still room for prices to fall. The MACD lines are sloping downwards, indicating that the bears are in control of the market. The moving averages are also favoring the bears, with the 50-day MA crossing below the 200-day MA. This is a sign of weakness and could see prices dropping to lower levels in the days to come.

The Chaikin Money Flow (CMF) is also in negative territory, indicating a lack of buying pressure in the market. All indicators point to further downside prices for Chiliz, with the support at $0.2705 likely to be breached in the near future. The next key support level is $0.270,5.

Chiliz price action on the 4-hour price chart: CHZ prices likely to decline to $0.26

Chiliz prices are currently on a downtrend on the 4-hour price chart, with the bears likely to push prices lower to $0.26.The current market trend is likely to continue in the short term, with sellers targeting the support at $0.2705. A break below this support could see CHZ prices dropping to lower levels, with the key support at $0.26.

Chiliz price analysis: CHZ bleeds to lows of $0.2640 as bears rule the charts 3
CHZ/USD 4-hour price chart, source: TradingView

The RSI is currently line is residing lower at 30, which shows that there is still room for prices to fall. The MACD lines are indicating a bearish trend and the moving averages are sloping downwards, suggesting that prices could decline in the near future. The Chaikin Money Flow (CMF) is also in negative territory, indicating a lack of buying pressure in the market. All indicators are currently pointing to further downside for Chiliz, with the support at $0.2705 likely to be breached in the short term. The next key support level is $0.26.

Chiliz price analysis conclusion

The Chiliz price analysis reveals the strong downtrend current in the market as we expect prices to decline to $0.26 in the short term. The key support at $0.2705 is likely to be breached in the near future, with the next key support at $0.2605. The overall sentiment in the market does not favor Chiliz prices and it is likely that we will see more downside in the days to come. Bulls need to defend the $0.2705 support level in order to prevent a deeper price decline.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Joel Oluwatobi

Joel Oluwatobi

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.I love content and creating features on the cryptocurrency.

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