Chiliz (CHZUSD) Trades Downhill
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CHZUSD Analysis: Buyers Face Repulsion
Chiliz (CHZUSD) trades downhill. The price of Chiliz has been declining, with buyers being repelled lower. The $0.08640 significant level has proved to be a strong rejection point for buyers. It therefore allows sellers to reverse the crypto price. The buy traders have not been able to break through this key level since April this year.
Although buy-in growth has been in session since the middle of October, the Chiliz market has lacked the depth of both buy and sell influence before then. The cryptocurrency price had a low liquidity drive for a while before buyers made a pull.
Chiliz Key Levels
Resistance Levels: $0.14700, $0.13920
Support Levels: $0.09830, $0.66400
The Bollinger Band indicator shows that the bulls finally broke above the $0.06640 price zone. However, the next target, the $0.08640 price zone, has not yet been broken and is being held strong.
For now, buyers need to readjust their tenacity before making further dives into the market. There has been a progressive decline in the buying market. The bulls have gone cold for now, and sellers are hoping to win back their strength.
Market Expectation
The sellers and traders are posing a serious threat to the crypto buyers. Nevertheless, the buyers of Chiliz are not ready to give up yet. They, however, need to get back up to sustain their bullish tendency.
The bulls need to overcome these challenges to resume the uptrend. If not, they need to look for buying opportunities in the lower band or the oversold zone. The bears, on the other hand, could take advantage of the downward momentum and target the lower band.
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