While the cryptocurrency market continues to see selling pressure, with Bitcoin and many altcoins experiencing declines on January 25th, Chiliz (CHZ) stands out with an 8% increase over the past 24 hours, trading at $0.10557. This article explores what might be next for Chiliz.
Technical analysis of the two-hour Chiliz chart reveals a triangle formation breakout, suggesting a bullish signal for CHZ. The resistance line of the formation now acts as support, indicating further positive momentum.
Key support levels to watch on the two-hour CHZ chart are $0.10420, $0.10312, and $0.10171. A close below $0.10312 could lead to selling pressure and a potential return to the formation zone.
On the resistance side, the levels to monitor are $0.10573, $0.10754, and $0.10909. A close above $0.10573 could accelerate CHZ’s upward trajectory.
The CHZ/BTC daily chart shows a weakening uptrend after a recent rise from the falling channel’s support line. Key support levels are 0.00000243, 0.00000229, and 0.00000213 BTC, with a close below the 0.00000229 BTC level, intersecting with the EMA 21, potentially leading to a loss against Bitcoin. Resistance levels to watch are 0.00000267, 0.00000281, and 0.00000297 BTC, with a daily close above 0.00000267 BTC indicating a gain in value for Chiliz against Bitcoin.