Chiliz price prediction is bullish for the long term and suggests a pullback rally is possible. The price is consolidating near the demand zone and buyers are trying their best to rebound.
CHZ price is below the 50-day and 200-day EMA indicating a downtrend. At present, the price is stuck in the narrow range between $0.0530 to $0.0658. It shows signs of the base formation and buyers trying to defend the lows.
The price pattern of the Chiliz crypto is favoring the bears but they seem to be losing the momentum.
Previously, buyers tried multiple times to push the price above the 50-day EMA but they did not succeed and prices reverted down. Slow and steady prices declined and eroded the previous gains.
Chiliz price is currently trading at $0.0592 with an intraday rise of 1.02%. The 24-hour volume to market cap is 6.95%.
The pair of CHZ/BTC is trading at 0.00000217 with an intraday decline of -0.91%. The price pattern of both the pairs looks similar and no reliable signs of recovery are visible.
Will Chiliz Price Continue the Consolidation or Recover?
Chiliz price prediction favors the bulls and suggests a significant rise is possible in October.
The overall crypto market is recovering and BTC price succeeded to break out of the $27K hurdle. Due to this, the price of CHZ crypto and many other altcoins may be positively impacted.
Till CHZ price sustains above $0.0539 investors should remain positive and may look for buying opportunities. However, the crypto will pick the momentum buyers will be able to break the $0.0568 hurdle.
The analysis suggests that CHZ price will continue to consolidate for some more time before the range expansion.
CHZ Price Analysis on a Weekly Time Frame
CHZ price formed a Doji on a weekly time frame. It indicates that the downfall has taken a halt and bounce is possible. However, the confirmation of the reversal is still awaited.
The fresh buyers look reluctant but if the overall market recovers, then buyers in Chiliz may come forward to participate in the rally.
The MACD curve slopes upward and tries to climb above the zero line. It denotes mild bullishness. The RSI at 45 near the neutral territory indicates a balance between bullish and bearish positions.
Conclusion
Chiliz price prediction is bullish for October 2023 and suggests a pullback rally is pending.
CHZ price is consolidating for the base formation and buyers are trying their best to rebound. The analysis suggests that CHZ crypto is oversold so bulls may show a comeback rally.
Technical Levels
- Resistance levels: $0.0658 and $0.0750
- Support levels: $0.0500 and $0.0450
