Chiliz (CHZUSD) Finishes Recovery to $0.103200 Key Zone
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CHZUSD Analysis – Sellers Make a New Approach for Further Breakdown
CHZUSD finishes its recovery to the $0.103200 key zone as sellers now plan to extend their force lower. The crypto pair has just finished a recovery to the key $0.103200 zone, but it appears that the sellers are now planning to extend their force lower in the market. As of recent, buyers have been less interested in the crypto price, and there has been a lack of buying activity. This has allowed the sellers to capitalize on Chiliz weaknesses and has resulted in strong selling pressure on the market. Since the start of May, the bulls have been quiet and the bears have been in full control, leading to a continuous decline in the crypto price.
CHZUSD Key Levels
Demand Levels: $0.189500, $0.137800
Supply Levels: $0.103200, $0.089200
This bearish trend has been further reinforced by the lack of buying activity and the fact that the sellers have been able to take advantage of Chiliz weaknesses. However, all hope is not lost for the bulls. Despite the current bearish trend, there is still a chance for the bulls to turn the tide around and help the crypto price recover from its current lows. Investors who are looking to take a long position in the CHZUSD pair should look for signs of bullish momentum and capitalize on any buying opportunities that may arise.
The crypto market is in a turbulent state as the price of the coin has been bouncing back and forth between the $0.137800 significant zone and the $0.103200 significant price. After a short trade below the latter, the buyers were able to push the price back up to the $0.103200 level, but the sellers have been able to maintain their grip on the market, keeping the bearish trend in place. The next level to be breached is the $0.89200 key zone, which has been identified as a potential turning point for the market. If the sellers can break through this point and continue to push the price down, it could be a sign of a larger bearish trend. However, the buyers could also stage a comeback and push the price back to the $0.137800 significant zone.
Market Expectation
The Moving Average crossing is still in line with the bearish trend, suggesting that the market could continue to go down. Traders are keeping a close watch on the market, waiting to see if the bearish trend will continue or if the buyers will be able to make a comeback. Only time will tell which way the market will go.
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