The Potential of Chiliz (CHZ) Coin in the Upcoming Bull Season - Latest cryptocurrency news

The Potential of Chiliz (CHZ) Coin in the Upcoming Bull Season

Chiliz, which was among the popular cryptocurrencies in 2021, is a unique cryptocurrency that offers special experiences to sports fans. Although it is far from its peak levels, it is seen as one of the strongest candidates for the next bull season. Let’s take a closer look at the four-hour chart and price predictions.

On the four-hour chart, Chiliz experienced a downfall after announcing an agreement with the US Department of Justice on November 21st. However, it is observed that it has been moving within a rising channel since October. The price of CHZ started at $0.054 and reached $0.086. Then, it experienced a decline and recovery period and reached the $0.080 levels.

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The important support levels for CHZ are determined as $0.07261, $0.06964, and $0.06739. If a four-hour bar closes below $0.07297, it is expected that CHZ price may regain momentum. On the other hand, the important resistance levels for CHZ on the four-hour chart are stated as $0.07444, $0.07670, and $0.08150. If a bar closes above $0.07670, it is predicted that the price of Chiliz may move towards the $0.08 levels.

According to CoinMarketCap data, the price of CHZ reached its all-time high of $0.8915 in March 2021. Currently, it is trading at $0.074, which is a decrease of 91.75%. Chiliz coin has the potential to surpass previous peak levels in a possible bull season. This potential arises from its focus on the sports sector, which is of interest to billions of people.

There is no reason for Chiliz coin, which includes Fan Tokens, not to see prices of $1 and above in the upcoming bull season. In this context, it is believed to have a potential for an increase of 10 times or more.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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