Chiliz (CHZUSD) Price Is Set to Continue Southward
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CHZUSD Analysis – Bearish Reaction Is Still on Course
CHZUSD price could continue southward as bears are determined to pull through. The CHZUSD pair has been on a roller coaster ride this week, with buyers and sellers both vying for control of the crypto price. Initially, buyers got much attention, pushing the price up to the $0.132000 key zone. However, the technical picture of the crypto price still indicates that sellers might reactivate their strength and push the price southward. The Relative Strength Index (RSI) has resolved back to a selling playground, indicating that bears are determined to pull through. This could mean that the CHZUSD price could continue to decline as sellers look to regain control. The bulls are still targeting a return of the price order back to the $0.132000 key zone, but it remains to be seen if they will be able to hold off the sellers.
CHZUSD Key Levels
Resistance Levels: $0.27300, $0.206000
Support Levels: $0.132000, $0.099100
At the beginning of the year, the bulls made their resolve to buy the token at the $0.099100 key price. As the crypto price progressed, the bulls kept getting stronger in the market. The buy traders were able to rally up, breaking through the trend line. After a successful appearance above the trend line, the buyers pushed further. However, the bulls were unable to move close to the $0.132000 key zone. The sellers swung the price influence lower. This at a point reduced buying influence on the crypto market. Sellers are still indicating a show of power on the crypto price.
The crypto market is still volatile, with the bulls and the sellers both trying to gain the upper hand. The bulls have made a strong start to the year, but they have been unable to break through the key zone. The sellers have been able to keep the price influence lower, but they have not been able to gain a strong foothold in the market.
It remains to be seen if the bulls will be able to break through the key zone and gain control of the market. For now, the sellers still have the upper hand and are continuing to show their strength in the crypto market.
Market Expectation
The CHZUSD pair is in a tug of war between buyers and sellers. While the bulls are still trying to push the price back up, the sellers are still hoping for a comeback. It remains to be seen which side will prevail in the end, but the CHZUSD price could likely continue southward as bears are determined to pull through.
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