Chiliz (CHZUSD) Price Needs Extra Effort for a Breakout
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Chiliz (CHZUSD) Analysis- Chiliz Price Needs Fresh Momentum
Chiliz (CHZUSD) price needs extra effort for a breakout in the market. In June, buyers took hold of the market trend in an attempt to turn the tide. Since then, sellers have been pushing the price southward. They, however, have been unable to make any significant movement beyond the $0.059900 market level. As a result of the lack of momentum in the market, the buyers eventually found their way back. They have been exerting pressure on the market. Currently, they are yet to break beyond the $0.080400 market level.
Chiliz (CHZUSD) Key Levels
Resistance Levels: $0.139000, $0.104000
Support Levels: $0.080400 $0.059900
The market is in a state of equilibrium at the moment, with neither buyers nor sellers having the upper hand. It is clear that the Chiliz (CHZUSD) price needs a significant effort to break out of this state. Traders will be watching the market closely to see if the buyers can make any further progress. If the buyers are able to break through the $0.080400 market level, it could signify a significant shift in the market. This would mean that the buyers are taking control, and the price would be potentially increasing.
On the other hand, if the sellers can maintain their grip, it could mean a prolonged period of stagnation. Traders will be closely watching the market to see if either side can make a decisive break and gain control. Regardless of the outcome, the Chiliz (CHZUSD) market is certain to be an interesting one to watch in the near future.
Market Expectation
The Bollinger Band Indicator is currently compressing below the $0.080400 market zone. It indicates a potential upcoming breakout. Despite the silence in the Chiliz crypto price, traders should anticipate a price movement in the coming days. On the 4-hour chart, buyers are still waiting for price dormancy, hoping for enough drive to push the market into a breakout.
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