CHZUSD Bulls Attempt a Recovery After Sharp Selloff
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Price Analysis – CHZUSD Stabilizes Above Key Support
Chiliz is attempting to regain stability after a sharp selloff that saw the token briefly dip below the $0.0306 support level. Following the steep decline, buyers have started to re-enter the market, driving a short-term recovery as the price consolidates near the $0.0350 zone. The reaction from the $0.0306 base suggests early signs of accumulation, with bulls showing interest after the strong liquidity sweep to the downside.
CHZUSD Key Levels
Support Levels: $0.0306, $0.0250
Resistance Levels: $0.0379, $0.0476, $0.0671
The market previously lost momentum around the $0.0476 resistance area, triggering profit-taking and bearish continuation. However, the recent bounce reflects renewed optimism among buyers who may now aim to reclaim lost territory. This provided momentum continues to strengthen above current levels.
The RSI (Relative Strength Index) is gradually climbing from oversold territory, currently around 48, indicating improving buyer sentiment. Similarly, the Momentum indicator shows an early phase of bullish recovery, suggesting potential for a broader retracement.
Price action is now trading just above the 9-period moving average but remains below the 21-period MA, reflecting that the pair is still in a corrective phase rather than a confirmed uptrend. If buyers sustain pressure above $0.0350, the next challenge lies near the $0.0379 resistance zone, where stronger selling reactions could occur.
Market Expectation
In the short term, CHZUSD appears to be forming a recovery base between $0.0306 and $0.0379. A decisive push above the $0.0379 resistance could signal bullish continuation toward the $0.0476 barrier. Breaking this level would confirm a more significant reversal, potentially extending the recovery toward $0.0671.
However, if buyers fail to hold above $0.0350, the market could re-test the $0.0306 support region. A sustained breakdown below this key level may re-open downside liquidity toward $0.0250.
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