In the crypto market, while many projects have pleased investors, Chiliz (CHZ) remains quiet, not achieving the expected surge. Trading at $0.0809, CHZ’s chart analysis is crucial for understanding its future movements. The daily Chiliz graph initially showed a rising channel formation, which provided significant clues to investors until January 3rd. However, a subsequent drop broke the formation’s support line, and CHZ has not yet returned to the formation zone, falling below the EMA 21 level, indicating a bearish scenario.
Key support levels to monitor on the daily CHZ chart are $0.0789, $0.0753, and $0.0720. A daily close below the $0.0720 level, intersecting with the EMA 200 line, could lead to a significant loss in CHZ’s momentum. Conversely, resistance levels to watch are $0.0829, $0.0882, and $0.0953. A daily close above $0.0882 could signal a positive shift in momentum for CHZ investors.
The CHZ/BTC chart highlights recent low levels and a narrowing wedge formation, suggesting a potential bear trap with only one support break. The latest bar movements touching the support level indicate a possible rise from this point.
Important support levels for CHZ/BTC include 0.00000182 and 0.00000177. A daily close below 0.00000182 could activate a bearish pattern. Resistance levels to consider are 0.00000187, 0.00000193, and 0.00000200. A close above 0.00000200 would signify a substantial gain for Chiliz against Bitcoin.
Investors should closely follow these technical indicators and support/resistance levels to navigate the volatile crypto market and make informed decisions regarding Chiliz.
