Chiliz price analysis: CHZ gains nominal value as price touches $0.2253

Chiliz price analysis

Chiliz price analysis for today shows that the cryptocurrency is showing a bullish trend, with the price of CHZ touching $0.2253. The price of CHZ/USD started to rise later yesterday, and the bulls are successfully continuing their endeavor today as well, as the price has increased significantly over the past few hours. The next resistance for CHZ is present at $0.2283, which is a little above the current price level, and the selling pressure may appear as the price nears the said resistance mark.

Chiliz price analysis 1-day price chart: A recovery of 11.99 percent noted in the CHZ value

The 1-day price chart for the Chiliz analysis shows that the price has increased today as bulls have taken the lead. The coin is trading at $0.2253 at the time of writing. Due to the recovery process initiated by the bulls, the crypto pair is reporting an 11.99 percent increase in value for the last 24 hours. At the same time, the trading volume for CHZ has also increased by159 percent, as it is currently sitting at $690 million, The market cap for the digital asset is $1.35 billion.

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CHZ/USD 1-day price chart, source: TradingView

The MA 50 and MA200 for the CHZ/USD pair have a good distance from each other, with the MA50 sitting at $0.2272 and the MA200 sitting at $0.1975, indicating that there is still room for growth in the near future. Looking at the technical indicators, MACD shows that the bulls are currently dominating as the MACD line has crossed above the signal line. RSI for CHZ is sitting at a healthy level of 44.94, indicating that there is room for more buying pressure in the market.

Chiliz price analysis: Recent developments and further technical indications

The 4-hour Chiliz price analysis shows that the price function has been following an upward trend for the last 4 hours, as bulls took charge later yesterday. Previously CHZ was on a downtrend for the past few days. Today no bearish hindrance has been observed as green candlesticks are appearing on the 4-hour chart.

image 430
CHZ/USD 4-hour price chart, source: TradingView

The hourly Moving average is currently at $0.1939 and provides support for the CHZ/USD pair. The MACD line is currently at 0.0043 and with the histogram also showing positive values, it can be observed that the bulls have taken charge. RSI for CHZ is presently at 57.03, just below the overbought zone and indicating that there is room for more buying pressure in the market.

Chiliz price analysis conclusion

The Chiliz price analysis suggests that the coin is in bullish momentum after yesterday’s correction, though the next resistance at 0.2283 may present a selling opportunity for investors. The technical indicators also support the bullish trend in the short term, with room for further buying pressure. However, bearish hindrances may appear in the near future, and investors should keep a close eye on the market dynamics.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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