Chiliz (CHZUSD) Buyers Show Resilience Above the $0.09400 Significant Level
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CHZUSD Analysis – The Bulls Seek to Continue the Expedition
Chiliz buyers show resilience above the $0.09400 significant level. CHZUSD has seen buyers build strong resilience above the significant level of $0.09400. This indicates that the bulls have not given up on their expedition. The battle for dominance between buyers and sellers has been intense this week, with Chiliz experiencing market turns at every point.
From last week to this week, the bulls have been determined to break through the price zone of $0.112300. However, the sellers have been active, preventing the buyers from making progress for several days. This ongoing struggle explains the current holdback in the market.
Chiliz Key Levels
Resistance Levels: $0.13320, $0.11230
Support Levels: $0.07100, $0.06620
The bullish charge began when Chiliz picked up from the significant level of $0.071060 earlier this year. It was at this point that buyers became aggressive and started pushing the price higher. However, above the key zone of $0.09400, the struggle has been ongoing for days. Despite the resistance from sellers, buyers are showing no signs of backing down. They are currently cooking up solid gains against the selling influence in the crypto market. Their determination is likely to change the narrative for Chiliz before the end of this month.
Traders should anticipate further progress from the buyers this week. The Money Flow Index, which measures the flow of money into or out of a security, is still above the 80.00 level. This indicates strong buying pressure and suggests that buyers are in control. The price direction flow is also high in favor of the bulls, further supporting the notion of a bullish trend. Chiliz will likely experience more bullish drives as buyers continue to show resilience in the market.
Market Expectation
The ongoing battle between buyers and sellers has created a market turn at each point. Despite the sellers’ attempts to prevent the bulls from making progress, buyers are determined to push forward. Their resolve is bound to change the narrative for Chiliz before the end of this month.
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