Chiliz (CHZUSD) Buyers Are Unwilling to Accept Defeat

Market Analysis – Chiliz Buyers Take a Breather 

Chiliz buyers are unwilling to accept defeat. The CHZUSD has been showing signs of a potential solid reversal, with buyers demonstrating resilience despite recent setbacks. Initially, Chiliz buyers were on the verge of breaching the $0.08000 key level. However, the recent trend has shown a slowdown in its momentum.

CHZUSD Key Levels

Resistance Levels: $0.1040, $01330
Support Levels: $0.0800, $0.0670

The buyers have taken a breather, pulling back to the $0.0670 significant level. This temporary retreat has given sellers an advantage to push the price lower.

The month of June established a bearish trend for the CHZUSD market. The price collapsed from the $0.1640 key level down to the $0.0540 price zone. This significant drop marked a challenging period for Chiliz, but the journey of recovery has now begun as buyers choose to fight back.

Despite the recent drawback, the Parabolic SAR indicator is still stretching forward. This suggests that the underlying bullish sentiment remains intact, and buyers are not willing to accept defeat. The Bollinger Band indicator is showing signs of potential expansion.

Market Expectation

On the 4-hour chart, the market is spreading through consolidation as buyers fight to take control. An expansion of the Bollinger Bands is just beginning, indicating that buyers are pulling through and may soon regain momentum.

In the short term, the buyers’ breather at the $0.0670 significant level may provide a foundation for a renewed push towards higher levels. The consolidation phase observed on the 4-hour chart suggests that buyers are regrouping and preparing for a potential breakout.

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