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- The Chiliz coin is trading near the $0.30-resistance level, which could indicate further bearish signals.
- The Parabolic SAR indicator is trading below the current CHZ price.
- As per the CMC, the Chiliz token has been the biggest gainer in the last 24 hours.
According to the CMC, the Chiliz token has become the top gainer in the last 24 hours, up 16% in the green zone at the time. However, the market leader bitcoin fell to $21K. This downside could pull the price of CHZ down once rejection is found near resistance.
At the time of writing, the CHZ token is trading with neutral momentum at the $0.218 mark against the USDT pair. Similarly, the price of the Chiliz token pair with the bitcoin pair is up 17% at 0.000001039 satoshis.
Buyer exhausted at bullish hurdle, thus hourly price candlesticks draw the bearish candlesticks, it may take a place of double Top formation if price slips below $0.18 level. Furthermore, the round level of $0.20 will be immediate support for CHZ bulls.
Despite invisible bearish signs, the Chiliz token is the top gainer in the last 24 hours and the market cap is up 14.6% at 1.3 Billion USD as per the CMC. along with the rapid bounce back, trading volume increased by 126% recorded at $726 Million. Meanwhile, the Parabolic SAR indicator is remaining below the current price of CHZ.
RSI Remains to dip into Extreme Oversold Territory
On the daily price scale, the RSI indicator is moving towards the highly oversold area, later on, buyers may see a trend reversal signal. Similarly, MACD indicator is also falling below the neutral zone.
Conclusion
Sellers are looking aggressive for a sale of the Chiliz token near the $0.30-resistance area. Today’s drop may form a double top formation for the next drop. The $0.20 level is now seen as an immediate support for buyers.
Support level – $0.20 and $0.15
Resistance level – $0.30 and $0.35
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
