- CHZ Token has given a breakout of the symmetrical triangle in all significant charts recently.
- The token price struggles near the 200 EMA in the daily chart with a bearish crossover possibility of 50 and 100 EMA.
- The CHZ/BTC pair trades at 0.000007988 BTC with an intraday gain of 24.38%.
CHZ token price faced rejection of more than 65% from the $0.45 level before refuging support from the $0.20 level. The token price has managed to advance higher since within a symmetrical triangle. The increased volume range observed along with the breakout implies the bulls back in action.
The token price has recently crossed over the 200 EMA in the 4-hour technical chart. Investors might soon observe a short pullback indicating the retest of the breakout. However, Investors must pay close attention to volume to ensure that the retest is successful.
The RSI (overbought) indicates bearish momentum as the RSI line spiked and deep into the oversold zone projecting a reversal soon.
The ADX projects an increased trend momentum as the slope in ADX is moving higher.
The CHZ Token price has seen a fall of 630% in the intraday trading volume. Furthermore, the market cap of the token has increased by 39% in the past 24 hours. The CHZ/USD pair trades at $0.3329 as the Coin ranks at #55 in the crypto-verse.
Breakout Of Triangle Opposed With Daily 50 EMA
In the daily technical chart, the CHZ token has a breakout of the same triangle pattern. As per the price action, the token price might find some support near $0.20 and $0.10. On the opposite side, the token may find some resistance near $0.37 and $0.45.
The coin price may find resistance from the 50 EMA in the daily technical chart. However, the boost in buying volume might result in the price crossing over the 50 EMA.
Conclusion – The breakout of the CHZ token from the triangle pattern with a boost in volume has lured many more investors. Furthermore, Investors may see the coin price touching the heights of the $0.5 mark again. However, till the retest of the breakout of the mentioned structures, investors must hold on to their chips.
Support – $0.20 and $0.10
Resistance -$.37 and $0.45