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- Buyers attempt to take over Chiliz coin’s dominance on their fingertips.
- CHZ price seems negative while remaining below resistance trendline for short-term view.
- Chiliz market rose by 9.6% in the last 24-hours, capitalization reached $1.2 Billion.
Investors are taking stand for managing the Chiliz (CHZ) price near the $0.18 immediate support level. Along with defending, Bears also hold the altoin, in fact, they have been keeping asset prices under the short horizontal range between $0.18 and $.22 support and resistance for the past two weeks.
Earlier this week, buyers became frequent sell-offs till the last day. After all, buyers became aggressive in intraday morning, thus Chiliz coin against the USDT pair is trading at $0.20 mark along with 9.7% intraday gain.
For the past two weeks, CHZ price remains below the downsloping trendline (blue). At the time, price is approaching to break this resistance level. Meanwhile, the Market capitalization is in the green zone by 9.7% in the last 24 hours at $1.2 Billion as per CMC. Furthermore, the pair price of Chiliz coin along with Bitcoin is up 11.5% at 0.0000100 Satoshis.
Despite the short-term bearish trendline, CHZ coin underperforms below the vital bearish trendline (white) for a long time. Amid consolidation, the $0.18 level provides a price pump to CHZ price. However, the trading volume increased by 46% in the last 24-hours at $440 Million.
CHZ Price Observes Just Below the 20-DMA
Buyers have set the buying order near the lower-band of Bollinger Band indicator in terms of the daily price scale. Meanwhile, bulls struggle at the mid-band of the following indicator, above this bullish hurdle, bulls may push 25% price higher. In addition, Stoch RSI displays fresh uptrend and simple RSI seems to be flat at semi-line.
Conclusion
The Chiliz coin (CHZ) is remaining under the narrow range-bound market. Stoch RSI started moving higher from the lower level. The CHZ price reached the verge of a fresh uptrend. Now bulls need to breach this bullish hurdle soon.
Support level – $0.18 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.
