- The trading volume of Chiliz tokens in the last 24-hours at the time of writing this article is +20%
- The price of CHZ/BTC and CHZ/ETH at the time of writing this article is 0.000007592 BTC and 0.0001038 ETH, respectively
- 50MA is crossing the 100MA in an upward direction
Long term view:-
In the daily chart time interval, we can see that the price is in a consolidation period. As we can see, the price is between the resistance and support, and the bulls are pushing the price up. Let’s have a look at the technical indicator to see if the price will break the resistance or the support.
Firstly, we can see the MACD, which is showing green histograms as the MACD line is above the signal line, but the MACD line is very close to the signal line and with a good amount of volume, they can cross each other soon. In addition to that, we can see the RSI is in the neutral zone near 61, 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 100MA, and the 50MA is crossing the 100MA, which is a bullish sign.
Short term view:-
In the 4-hour time interval, we can see the price failed to break the resistance, and now the bears are pushing the price down. Having said that, the MACD is showing green histograms as the MACD line is above the signal line, but the MACD line is pointing towards the signal line and may cross it soon, which is a sell signal for all the traders. In addition to that, we can see the RSI is in the neutral zone near 53, and the RSI line is pointing sideways, which means the bulls and bears are giving each other a good fight.
Lastly, we can see the Moving average as the 50MA is acting as a support and the 20MA,50MA is above the 100MA.
Conclusion:-
Looking at both long term and short term, we can see an ascending triangle pattern in the daily chart time analysis, which is a bullish sign, the MACD crossing in 4-hour is a bearish sign. So the price may not break the resistance, and the price can go down to the support from there the bulls can make a comeback, but if it fails, then the bears will take the price down.
RESISTANCE:-$0.55,$0.60
SUPPORT:- $0.41,$0.33