Chiliz Price Analysis: Will CHZ Retest $0.20 Level?


  • CHZ faces resistance at $0.20.
  • CHZ gained approximately 3.1% within the last 24 hours.
  • CHZ/USD pair trading below EMA(20).
  • Chiliz gain bullish momentum over the past week gaining 4.57%.

04 February 2023 : In this article we will walk you through Chiliz price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Chiliz, Is CHZ a good investment? Chiliz support & resistance levels etc. But before diving deep into the CHZ technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,083,264,400,070. The total trading volume stands at $51,393,163,823. Bitcoin shares 41.6 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $23,370.21 level after a decline of -0.32%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.07 percent reaching to $1,661.24 during the previous 24 hours.
While publishing this blog, BNB traded at $329.84, following a price change of 1.23% within the same time frame. XRP the native coin of XRP is down by -0.56 and currently trading at $0.41. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Chiliz Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Chiliz (CHZ)

CHZ Resistance Levels CHZ Support Levels
Resistance Level 1 $0.20 Support Level 1 $0.17
Resistance Level 2 $0.21 Support Level 2 $0.15
Resistance Level 3 $0.23 Support Level 3 $0.13

Chiliz Performance

The price of Chiliz (CHZ) is at $0.15, up 3.1% in the past 24-hours and has a price change of 4.57% over the week. One day trading volume for BTC is 111,772,528.00 USD while total marketcap reached $967,937,606.00 USD. There are almost 6,661,685,577 are in circulation out of 8888888888.

Chiliz Price Analysis

CHZ price analysis for 04 February 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Chiliz.

Moving Averages Price Indicator
Simple Moving Average (10) 0.19 Sell
Exponential Moving Average (10) 0.19 Sell
Simple Moving Average (20) 0.21 Sell
Exponential Moving Average (20) 0.20 Sell
Simple Moving Average (50) 0.22 Sell
Exponential Moving Average (50) 0.21 Sell

The Relative strength index (RSI) for CHZ Coin is currently hovering at 28 for 14-days average line, which means CHZ is in oversold zone and a trend reversal is possible. The coin is going down as it break below two crucial support levels of $0.17 and $0.15. The market is not suitable for bulls and bears might take CHZ towards the next support at $0.13. The CHZ/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While CHZ’s Williams %R indicator is at -61.238 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

Chiliz market shows a bullish signs, and bulls can push CHZ higher in the coming sessions. CHZ has a resistance at $0.20, beyond which the coin would move toward next crucial resistance at $0.21.