Chiliz (CHZUSD) Buyers Hold Stance
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Chiliz (CHZUSD) – Bulls Wrestle Against Selling Influence
Chiliz (CHZUSD) buyers hold a stance. The buy traders have interrupted the selling progress in the crypto market. Over time, there has been a lack of price liquidity. This has been causing traders to hesitate before making a move.
However, there has been recent consolidation above the $0.05860 support level. Last week, sellers made an extra effort and challenged this key level, managing to slip below it. Despite this, the bulls are hoping to regain their strength and are currently putting the pedal to the metal.
Chiliz Key Levels
Resistance Zones: $0.11000, $0.09730
Support Zones: $0.08520, $0.05860
The sellers have been persistent in their efforts, even though they have been slowed down at times. When the bulls failed to break through the $0.08520 level, the market tide changed to a bearish fallout. The buyers attempted to fight back, but the selling motion gradually increased its pace.
Although the bears may currently lack the full drive to go lower, they are still willing to push anyway. Traders looking for sell opportunities should be cautious as the price makes a pullback. If a successful pullback occurs, it may present an opportunity for traders to put in more effort.
The Relative Strength Index (RSI) indicates a buying opportunity in the Chiliz market. If there is an influx of buy action this week, it can potentially change the price sentiment. Traders should closely monitor how the price reacts to the important $0.05860 level.
Market Expectation
On the 4-hour chart, the bullish strength is still cycling around. The buyers are continuing to drive close to the $0.05860 key level. If their momentum persists, the bulls could become stronger and challenge the sellers.
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