Chiliz (CHZUSD) Anticipates Further Losses
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Chiliz (CHZUSD) Analysis – Sellers Prepare for Lower Movement
Chiliz (CHZUSD) anticipates further losses below the $0.062000 market zone. The prevailing bearish sentiment drives this anticipation. The market has shown stability above the significant level of $0.06200, but recent consolidation has provided room for a breakout.
Last week, the crypto price broke below the Bollinger Band during a compression phase. This indicates an intensification of selling pressure that has overwhelmed buying demand. Consequently, the price trend suggests the potential for further losses.
Key Levels for Chiliz (CHZUSD):
Resistance Levels: $0.133000, $0.111000
Support Levels: $0.097000, $0.062000
Price volatility has recently extended to the $0.062000 market level, with sellers preparing for a breach lower in the market. This week, there may be heightened volatility in the crypto price. This is due to the attraction of new traders seeking opportunities during the downward movement. Traders should consider taking advantage of this movement to trade in a downward direction.
The Parabolic SAR indicator reflects a market decline following a significant consolidation phase. This therefore indicates that the action will play out as sellers hold the market. On the daily chart, the sell traders are prepared to push lower again. This means that extra effort is also needed to break below the $0.062000 key zone.
Market Expectation:
The short time frame has witnessed price volatility in the previous week, with buyers attempting a comeback. However, on the 4-hour chart, the market is currently in a compression stage, signaling another selling opportunity for sellers. Traders should remain vigilant and seek confirmation factors to strengthen their analysis.
You can purchase Lucky Block here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
