Chiliz (CHZUSD) Bulls Struggle to Regain Momentum
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Chiliz Analysis – Buyers are Putting in Serious Effort
Chiliz Bulls struggle to regain momentum as the year comes to an end. The Chiliz market has experienced a shift in momentum this week, with bulls attempting to push back against bearish pressure. The intense rivalry between buyers and sellers hints at the potential for a year-end rally and further price movement. Despite a slow start, CHZUSD managed to stage a decisive bounce from the $0.077300 support level, defying bearish attempts to push it lower. This resilience demonstrates a strong interest from buyers and suggests a potential change in momentum.
CHZUSD Key Levels
Resistance Levels: $0.095900, $0.132600
Support Levels: $0.077300, $0.066900
However, it is important to note that the $0.095900 level remains a significant resistance point for CHZUSD. Failure to break above this level could result in a pullback and renewed bearish pressure. The overall crypto market remains volatile, and this volatility could translate into sudden swings in the CHZUSD price.
While technical indicators hint at bullish momentum, a clear catalyst driving this recent upswing is still missing. This could limit the upward potential in the short term. If CHZUSD can sustain its momentum and successfully break above the $0.095900 resistance level, it could open up the possibility for further gains.
Market Expectation
As the year comes to an end, the chiliz market appears to have turned a corner, with bulls potentially taking the lead. Technical indicators in the short time frame suggest potential for further gains, but buyers will need to exert more pressure to sustain the upward momentum.
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