- The trading volume of Chiliz token in the last 24hr at the time of writing this article is +15%
- The price of CHZ/BTC and CHZ/ETH at the time of writing this article is 0.000008278BTC and 0.0001135ETH, respectively
- Price is taking huge support with 20MA
Long term view:-
In the daily chart time interval, we can see the bulls are taking control of the price and driving it up. Also, the price is near the resistance now we can see the bulls are also putting pressure on the bears. Let’s look at the technical analysis to see if the price will break the resistance or the bears will take the price down. First, we can see the MACD, which shows green histograms, which means the MACD line is above the signal line, a bullish signal and there is no sign that the line will change direction soon. In addition to that, we can see the RSI is in the neutral zone near 61. Also, the RSI line points towards the overbought zone of 70, which means the bulls are winning the fight against the bears. Lastly, we can see the moving average as the 20MA is above the 100MA. Also, the 20MA is above the 50MA, but the 50MA is below the 100MA, which is a bearish sign.
Short term view:-
In the 4hr time interval, we can see the price is near the resistance and the bulls putting a great pressure. MACD which is showing the green histograms as the MACD line is above the signal line, the MACD line just crossed the Signal line and it is a buy signal for the bulls. In addition to that we can see the RSI is in the neutral zone near 65 and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears. Lastly we can see the Moving average as the 20MA is above the 50MA and the 100MA, also the 20MA is very close to 50MA which means the MA can cross each other soon
Conclusion:-
Looking at both long-term and short-term, we can see the price is near the resistance and the bulls will break the resistance as the MACD showing green histograms, as the price is near the resistance in the 4hr and the daily chart. So the trend is bullish. If the bulls maintain the same pressure they will break the resistance but if failed the bears will take control of the price.
Resistance:- $0.5672,$0.6060
Support:- $0.4359,$0.3145