Chiliz Token Price Analysis: CHZ Coin Price Looking To Breakout Above The Consolidation Zone

   2021-07-11 11:07

  • Chiliz coin price is currently trailing in the consolidation zone. It might hit a new high of $0.35 in the upcoming days.
  • Chiliz technical indicators hint at the continuation of the consolidation phase for upcoming days . In contrast, CHZ/BTC pair is seeing a gain of 3.65%

Why To Invest In CHZ Coin?

CHZ coin price is currently in a consolidation and is trading near the value of $0.2523. It has seen a gain of more than 3% in the past 24 hours. Chiliz is one of  the leading digital currencies for sports and entertainment fans , powering the world’s first blockchain-based fan engagement & rewards platform. CHZ  can be used to purchase or trade Fan Tokens through the consumer facing platform, Socios.com. Chiliz  has multiple office locations around the globe in Turkey, Korea, Switzerland and is set to continue its expansion by opening new offices in Spain, US and Brazil. CHZ coin price is currently in a slump but can soon see a new high. One can position their funds according to the price action in the Chiliz

Chiliz coin is ranked 59th in the CMC with a market capitalization of $2,229,720,816. The volume of the CHZ along with the market cap has seen an increase over the past 24 hours.  Volume to Market capitalization of CHZ is 0.2426, hinting at the consolidated momentum. If the ratio crosses above 0.8 then a strong uptrend can be seen.



Technical Indicators Suggests Consolidated Momentum For CHZ Coin Price

Source: Trading view

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The weekly technical chart of the CHZ coin suggests a continuation of the consolidated phase in the upcoming days. Meanwhile, the daily chart of the coin suggests an upside correction for the price . Resistance for CHZ coin price on the upside can be seen near $0.42. The support region in the asset price can be observed near $0.2 .The price of the token is currently trading below the 50 and 100 daily moving average . The 50 MA line is near $0.2633, making it a temporarily hostile region for the price. Chiliz price can see an uptrend in the upcoming days. CHZ/BTC pair can also see an uptrend in the upcoming days.

Conclusion

CHZ coin price has remained profitable to the investors in the past and can be the same in future. In the present market scenario ,CHZ token price is currently observing a consolidated momentum but can soon see an uptrend .

Technical Levels

Major Support:$0.2

Major Resistance:$0.42

Source: https://www.thecoinrepublic.com/2021/07/11/chiliz-token-price-analysis-chz-coin-price-looking-to-breakout-above-the-consolidation-zone/

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