Chiliz (CHZUSD) Faces Struggles as Buyers and Sellers Clash
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Chiliz Analysis – Market Faces Consolidation
Chiliz (CHZUSD) faces struggles as buyers and sellers clash. The market continues to witness a struggle between participants, resulting in a weakening trend. The inability to surpass the important $0.080810 level has led to opposition, with sellers gaining momentum throughout November. The crypto price is currently experiencing a lack of sufficient price liquidity, which has made it challenging for the bulls to make headway.
CHZUSD Key Levels
Resistance Levels: $0.080810, $0.68100
Support Levels: $0.132200, $0.054100
As the crypto market opened today, the sellers took control intending to sell. However, in late November, the market approached a state of equilibrium, with a notable absence of visible momentum. Despite the sellers’ pressure, the buyers are striving to regain control and create a struggle around the $0.06810 zone. A strong effort from the buyers this week could potentially signal a breakthrough and ignite a more decisive trend in the market.
Currently, the market is responding slowly to the attention of sellers, with low liquidity strength impeding the revival momentum indicator. However, the Money Flow Index (MFI) is still flowing in a positive direction amidst a steady flow.
The Chiliz price is currently presented with the possibility of either breaking out above the $0.080810 level or falling below it.
Market Expectation
In the short timeframe, the sellers are still in formation, and the trend remains unclear. The momentum indicator on the 4-hour timeframe is also yet to gain solid motion, indicating the need for Chiliz to gather enough strength before proceeding further.
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