Chiliz (CHZUSD) Bullish Attack Wanes
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Chiliz Buyers Face Resistance in the Market
Chiliz (CHZUSD) bullish attack wanes following a bearish interception. Chiliz buyers are currently facing challenges in their attempt to drive the market up. Despite their initial intention to go on an uptrend, they have been met with resistance from sell traders. The bears intercepted their position after they made their trades. The buyers lost interest after trading close to the significant level of $0.094000. Once forced out, the bears took control and drove the price down to the $0.080000 price zone.
Chiliz Key Levels
Resistance Levels: $0.181000, $0.132200
Support Levels: $0.094000, $0.053000
However, the buyers still pose a threat and may regain momentum in the market soon. The bulls have shown resilience and gained confidence in October, after a tug-of-war between market participants in September and October. Chiliz experienced a boost as the pressure from sellers waned down at the $0.053000 market level. In mid-October, the Chiliz price took a turn and began to rise as buyers stepped in.
Despite the current sell breakdown, we expect to see the buyers take charge again. The $0.100000 significant level has proven to be a significant barrier for the buyers. Nevertheless, they are optimistic that it may be breached before the year comes to an end. The Parabolic SAR Stop and Reverse indicator still indicates prevailing bullish strength, despite some waning. Additionally, the Moving Average Crossing indicator is still showing a bullish flow for the crypto price.
Market Expectation
In the shorter time frame, sellers may have intercepted the market, but buyers are looking for a strong rebound. This could potentially happen if buyers show more confidence and assert their dominance.
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