Chiliz (CHZUSD) Buyers Switch Course as Buyers Face Repulsion

CHZUSD Analysis – Chiliz Sellers Pulls Lower

CHZUSD buyers switch course as buyers face repulsion. Chiliz has recently faced challenges at a significant resistance level of $0.0950. The buyers now encounter a roadblock in their efforts to push the price higher.

Chiliz Key Levels

Resistance Levels: $0.0950, $0.1000
Support Levels: $0.0830, $0.0800

The Chiliz price has struggled to maintain upward momentum after encountering resistance at the $0.1330 level earlier this December. Following this setback, the price spilled down to the critical market zone around $0.0830, which has been consolidating ever since.

Recent attempts by buyers to recover from the bearish trend have yielded limited results. As of recently, they have only managed to inch closer to the $0.0950 resistance level without breaking through. The bulls have displayed some resilience; however, the market remains under pressure from prevailing bearish sentiment.

The Moving Average Crossing indicator suggests that buyers are still making an upward push, albeit slowly. The MACD (Moving Average Convergence Divergence) is showing signs of upward movement, indicating potential bullish momentum in the near future.

Market Expectation

On the shorter time frames, sellers have recently managed to entrap buyers in a challenging market environment. Despite this, there is still potential for the bulls to regain strength. If buyers can break through the $0.0950 level and sustain momentum, we could see a push toward the next resistance at $0.1000. However, until then, the market is likely to remain in a consolidation phase, with the sellers still holding a significant influence over price movements.

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