Chiliz Price Analysis: Will CHZ Retest $0.26 Level?


  • 24-hour trading volume for Chiliz is hovering at $367,603,680.00.
  • The EMA(50) is currently at $0.22.
  • CHZ faces medium-term resistance at $0.28.
  • Chiliz(CHZ) records downward movement today.

03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $936,642,515,083. The total trading volume stands at $53,583,320,840. Bitcoin shares 39.69 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,389.79 level after an upward movement of 0.96%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.54 percent reaching to $1,317.86 during the previous 24 hours.
While publishing this blog, BNB traded at $287.12, following a price change of 1.38% within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a decline of -0.04% 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 $0.26 Support Level 1 $0.23
Resistance Level 2 $0.28 Support Level 2 $0.21
Resistance Level 3 $0.30 Support Level 3 $0.19

Chiliz Performance

CHZ has recorded a downtrend, losing -3.57% in last 24 hours. The current value of Chiliz is hovering at $0.22 with the trading volume of $367,603,680.00 USD in the same timeframe. The overall marketcap for CHZ is $1,303,887,694.00 USD while the coin price changes -13.97% over the week.

Chiliz Price Analysis

CHZ price analysis for 03 October 2022 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) 0.25 Sell
Exponential Moving Average (10) 0.25 Sell
Simple Moving Average (20) 0.24 Sell
Exponential Moving Average (20) 0.24 Sell
Simple Moving Average (50) 0.22 Sell
Exponential Moving Average (50) 0.22 Sell

RSI implying near overbought phase while trading at 53 and is trying to break out of the neutrality zone. 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 -71.382 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. Chiliz is moving in downward direction as bears successfully take the coin below immediate support level of $0.23. Now CHZ should find a support at $0.21 or else the sellers could then target the crucial support level placed at $0.30.

Conclusions

Chiliz is now experiencing a significant bearish trend, this does not necessarily imply that the cryptocurrency is in any type of precarious situation that cannot be rectified. Even if the price is falling steadily, it is anticipated that the two support levels will serve as strong barriers and cause the trend line to rebound back into the positive zone.