Chiliz (CHZ) Breaks Medium-Term Resistance Convincingly

A surging upward momentum in the Chiliz market has ultimately led to a breakout of a medium-term resistance at $0.05845. The current session’s appearance suggests that price movements in this market may have set their sights on loftier goals.

Key Chiliz Statistics:
Current CHZ Value: $0.05989
Chiliz Market Cap: $449,286,481
Circulating Supply of CHZ: 7,498,079,839
Total Supply of Chiliz: 8,888,888,888
CHZ CoinMarketCap Ranking: 73

Key Price Levels:
Resistance: $0.05989, $0.06100, and $0.06200
Support: $0.05900, $0.05800, and $0.05700

Chiliz Appears to Be Eyeing the Next Significant Resistance

The ongoing session in the Chiliz 24-hour market has demonstrated impressive momentum, evident in the size of the price candle representing it. Furthermore, the session is taking place above the 21-day Moving Average curve, just above the previous resistance at the $0.05845 price level.

Meanwhile, the Relative Strength Index (RSI) indicator indicates that bullish momentum is on the rise, having avoided a bearish crossover near level 50 of the indicator. Additionally, the RSI lines have moved further into the overbought zone, indicating that there is further upside potential in this market.

CHZ Price Action Continues Toward Higher Price Levels

The CHZ 4-hour market also indicates that the upside forces remain strong in this market. The price chart shows that another session has started with buyers in control. This has further solidified the token’s price above the previously broken resistance, which now acts as support at the $0.05845 level.

Additionally, a bullish crossover has occurred in the overbought region, suggesting that more upside momentum is likely to drive price movements. This offers hope that Chiliz’s price may extend its ascent towards the $0.06200 mark.

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