Chiliz (CHZUSD) Bulls Push Higher as Sellers Lose Momentum
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Chiliz Analysis – CHZUSD Bullish Strength Yield Stronger
Chiliz buyers have successfully crossed above the $0.04820 key level, signalling a potential bullish recovery. The market has been under seller control for months, but bulls are now regaining strength, aiming for a sustained reversal.
CHZUSD Key Levels:
Support Levels: $0.04820, $0.03900
Resistance Levels: $0.05000, $0.07100
Chiliz has been suppressed in a lower-high trend since last year. The sellers have been maintaining dominance after buyers lost control around the $0.07100 key level. The bearish trend has persisted, pushing the price down to $0.03900, where buyers have now stepped in to trigger a potential reversal.
The MACD (Moving Average Convergence and Divergence) indicator suggests a shift in market momentum, with the histogram reducing its bearish spread. Meanwhile, the Momentum indicator also signals a recovery, showing buyers are gaining control. A break above the $0.05000 resistance level could confirm a stronger bullish rally, potentially setting the stage for a retest of the $0.07100 significant level.
The recent breakout above $0.04820 is a positive signal for buyers, suggesting a potential continuation of the bullish momentum. If the $0.05000 resistance level is breached, buyers may push toward $0.07100 and beyond. However, if the price fails to hold above $0.04820, sellers could attempt a pullback toward $0.03900, testing buyer strength once again.
Market Expectation
Market ExpectationOn the 4-hour chart, buyers have been silently regaining control, with sellers gradually losing momentum. A rebound above the $0.05000 key level could trigger a solid return for buyers, pushing the market higher. The MACD shows bullish potential, with buyers beginning to take over. The Momentum indicator confirms rising bullish pressure, signalling further upside potential. If bulls maintain their push, the next resistance target remains $0.07100. However, failure to hold above $0.04820 may lead to a retracement back to $0.03900, where buyers will need to defend their position.
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.
