Chiliz (CHZUSD) Buyers Regain Momentum, Eyeing a Reversal Above $0.0810 Key Level
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Market Analysis – Buyers Target a Reversal Above the $0.0810 Key Level
Chiliz buyers regain momentum, eyeing a reversal above the $0.0810 key level. The Chiliz buyers have been all out chasing for a reversal, starting with a rebound at the $0.0550 market zone. The bulls have remained responsive despite the recent escape above the $0.0670 key level, showcasing their determination.
CHZUSD Key Levels
Resistance Levels: $0.15000 $0.13180
Support Levels: $0.10800 0.08170
June was a total defeat for the buy traders, as the chiliz price fell from the $0.1640 significant level down. The crypto price broke below the $0.0810 key level in the middle of last month before losing out further this month.
However, the buyers are finally showing their redemption, pulling close to the $0.0810 key level. A successful breach of this level can help propel them to fill up the liquidity purge by the sellers last month.
The Moving Average crossing has filtered out the selling strength, and the buyers are now in charge. The Momentum indicator is also swinging upward, indicating the buyers’ growing strength.
Market Expectation
The buyers will need to maintain a serious course of action to pull through, as the steam is still clear in the shorter timeframe and the buying strength is appreciating. The Momentum is slowly reacting this time, but the direction still favors the buyers. An immediate rise to the $0.0817 key level is plausible as the buyers continue to assert their dominance.
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