- The CHZ crypto price has advanced by 26% in the last 1 year.
- The annual inflation rate of crypto is very high.
Chiliz (CHZ) is a blockchain platform founded by Alexandre Dreyfus in 2018. It powers Socios.com, enabling fans to purchase and trade Fan Tokens for exclusive rewards and voting rights in various sports and esports teams. Additionally, CHZ is used for transaction fees on the Chiliz blockchain.
The volume/market cap ratio of the Chiliz crypto is 5.47%, followed by the last 24 hours, representing high liquidity on its market cap. The market cap value for the token is $1.347B, which has advanced by 8.1% in the last 24 hours.
Chiliz token is the 87th largest cryptocurrency in the global cryptocurrency market. The spot trading volume for the token has witnessed an advance of 52.12% in the last 24 hours, following which the derivatives trading volume has advanced by 48.4%.
The value of the traded volume for the crypto in the last 24 hours is $74.16M, and the value of the derivatives volume is $82.32M. Also, the sentiment of the crypto is bullish, as per CoinCodex.
The market cap dominance of the Chilliz token is 0.05%, while the crypto’s volatility is high, resulting in 7.81%. Also, the time-high price achieved by the token is $0.8915. This crypto’s price is currently trading 83% below the all-time high.
The token price also has witnessed higher short liquidation as compared to the last 24 hours. It results in a short liquidation of $72.23K, while the long liquidation is worth only $15.03K. The open interest in crypto has further advanced by 48.4%.
Chiliz Token Supply Overview
With an Onchain market cap of $1.34B, the Chiliz token has a maximum supply of 8.89B CHZ. The circulating supply of the crypto is also 100% of the maximum supply.
Also, the supply inflation of the crypto is very high, resulting in 38.89%. Moreover, the fully diluted market cap of the token is $1.341B.
Volume Vs Price for Chiliz Crypto
The trading volume for the Chiliz token has declined over the last few days and is at significant lows. Despite this, the price of the crypto is consistently advancing to higher levels. It shows the lack of new participants in the market.
CHZ Crypto Technical Analysis
The CHZ token price has reversed from the lower levels, followed by the formation of a ‘W’ pattern on the weekly chart. The price is currently forming a higher high swing on the chart, and the crypto price is advancing to higher levels.
The following behavior of the crypto price indicates the presence of buyers in the crypto who are overtaking the price.
CHZ/USD Chart by TradingView.com
On the daily time frame chart, the CHZ crypto price is advancing to a higher level, followed by the EMAs value advancing on the daily chart. The crypto’s price is also trading above the 20, 50 and 200-day EMA. Furthermore, the following EMAs are trading in a golden cross.
The MACD has hit the zero level and is reversing from the same, followed by a turn in the signal and MACD lines. If the following factors on the indicator give a bullish cross, it might lead to a further surge in crypto price.
Despite declining below the 50 level, the RSI has again rebounded and is currently trading at a level of 56.39. It further broke above the 14-day SMA, indicating bullish behavior on the chart.
Summary
Chiliz (CHZ) crypto, fueled by high liquidity and bullish sentiment, sustains its upward trajectory, trading above key EMAs and forming bullish chart patterns. With increasing demand evidenced by volume surges and technical indicators signaling bullish momentum, CHZ price is poised for further gains, attracting buyers and potentially surging ahead.
Technical Levels:
- Support levels: $0.0500 and $0.1100
- Resistance levels: $0.1800 and $0.2700
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.