Chiliz (CHZUSD) Price Struggles As Buyers Face Resistance from Sellers
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Chiliz Analysis – Buyers Slows Down for Breakthrough
Chiliz price struggles as buyers face resistance from sellers. The price of Chiliz continues to dance to the tune of sellers as buyers struggle to make solid progress. The sellers have clouded the influence of buyers and have slowed down their momentum. However, despite these challenges, Chiliz still presents opportunities for the year 2024.
Chiliz Key Levels
Resistance Levels: $0.094500, $0.075100
Support Levels: $0.068000, $0.0534000
In the previous year, Chiliz provided a buying opportunity for a potential breakthrough. Buyers managed to regain their strength at the key level of $0.053400 after months of struggling. This bullish momentum intensified, pushing the price above the $0.0751000 market level. However, at the next significant zone of $0.094500, buyers have failed to break through. This demonstrates the need for them to reorganize their strengths.
Moving forward into 2024, buyers will have to gather momentum for a serious outflow of price liquidity. The momentum indicator shows a gradual decline, but there is a possibility of it being revived once again. Additionally, the MACD (Moving Average Convergence and Divergence) is still resting in the positive region. It suggests some positive sentiment among buyers.
Market Expectation
To achieve a stronger revolution, Chiliz buyers will need to force a breakthrough and overcome the resistance from sellers. This will require determination and strategic planning. Buyers must analyze the market dynamics, monitor price movements, and identify potential entry and exit points. While the current market conditions may be challenging, it’s important to remember that opportunities still exist.
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