The Chiliz Price Jumps Nearly 23% in 24 Hours to Trade at $0.106, Volume Surges 345% to $244 Million
The price of Chiliz has surged by nearly 23% in the past 24 hours, reaching $0.106 and seeing trading volume jump 345% to $244 million.
Chiliz Price Shows Bullish Momentum With Breakout Patterns
Chiliz’s price is undergoing a bullish trend, breaking past the resistance level at $0.095, and forming the cup and handle pattern, suggesting a continuation of the bullish trend.
The price retracement at the resistance level has allowed the bulls to surpass the pattern’s neckline, utilizing the $0.074 support as a launching point.
The breakout has established a sturdy support zone at $0.095, providing significant strength for the bulls.
The current Chiliz price shows a short-term reversal as it trades above its 50-day simple moving average (SMA). Chiliz’s 200-day moving average slows up, indicating a strong trend. Furthermore, the golden cross at $0.072 affirms the bullish momentum for the price of CHZ.
Currently trading near the overbought region at 68, the Relative Strength Index (RSI) indicates a gradual upward movement from the 30 oversold level and crossing the 50 midline level, indicating intense buying pressure.
Chiliz Price Remains Bullish, Bulls Target $0.13 Mark
Chiliz is experiencing bullish momentum as the bulls aim for a potential surge towards the $0.13 mark, the distance covered by the depth of the cup.
The bears could apply downward pressure in a corrective phase once the target is achieved, making the $0.095 support zone a better regrouping landing spot.
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