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•CHZ/USD is currently priced at $0.118 and has increased by 3.35% over the past day
•The technical indicators suggest a neutral outlook for the near term
•The trading volumes have decreased by 27.35% over the past day
Short Term View: Chiliz crypto shows signs of resurgence
The Chiliz price today is $0.118259 USD with a 24-hour trading volume of $64,435,469 USD. Chiliz is up 3.35% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.09081 and is indicative of the weak sentiment prevailing in the market.
Chiliz is stuck in a rut as it is transacting significantly below its all-time high of $0.8915 which it scaled on Mar 13, 2021. If the momentum continues to side with the bears and the bulls fail to cross the strong resistance around $0.20, then Chiliz Crypto could witness further downside correction and drop to the support placed at $0.084 or even further. Currently, Chiliz is transacting above the 50 SMA but below the 20 SMA on the four-hour chart, reflective of the indecision amongst the investors.Long Term View for Chiliz Crypto
The RSI slope for Chiliz is transacting at 35.84 and reflects an underlying bearishness in the asset. The altcoin has recovered from the oversold levels from a few days ago. Although the asset is displaying weak sentiment, if the positive price action seen today in Chiliz continues, a bullish crossover could occur on the daily MACD chart.
Conclusion
The Chiliz price is experiencing an influx of buying activity as the altcoin aims to recover its losses from the recent crash. The momentum is however, yet to side with the bulls and hence the prices are likely to continue falling in the days ahead as buyers have given way for the sellers.
Support: $0.084-$0.06
Resistance: $0.20-$0.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
