- CHZ token shows a golden crossover of the 50 and 200- day EMA
- The CHZ/BTC pair was trading at 0.000007202 BTC with a gain of 2.19 %
- The 24hr trading volume in CHZ token is $941.1 Million
As mentioned in the previous article on CHZ token, the token price nailed the breakout from its range and provided a remarkable 22% gain to the CHZ traders. However, as for now, it seems the token is facing strong resistance from this $0.335, displayed by a long higher price rejection candle in the technical chart. Thus, if the CHZ token sustains below the overhead resistance by the end of the day, the token price shows a reasonable possibility of getting reversed.
Regarding the EMA’s, the CHZ token shows a bullish trend in the price as it is trading above the crucial EMA’s 20, 50, 100, and 200. In addition, the chart also shows a golden crossover of the 50 and 200 EMA’s, luring even more buyers to the token.
The RSI (BULLISH) value is at 70, indicating a strong bullish emotion in the token market.
CHZ Token Crypto Chart In The 4hr Time Frame
The CHZ token in the 4hr time frame shows an upcoming ascending trendline supporting the bullish rally. This trendline seems quite reliable as the price has already been respected twice. Moreover, the price shows an evening star candle pattern at a $0.335 resistance level, suggesting a reversal. The CHZ traders can expect a minor pullback to this rising trendline.
Moving average convergence/divergence indicator (BULLISH) shows that signal and MACD lines are moving higher to the neutral zone (0.00), indicating bullish momentum.
Conclusion: From the technical perspective, the CHZ token has shown a fantastic rally in the CHZ/USD chart, crushing all the resistance levels in their way. However, as mentioned above, the token price is struggling to cross the $0.335 resistance, and if the price gets reversed, the ascending trendline could be used to check for a minor pullback before the rally continues.
Support– $0.3
Resistance– $0.335