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As the price of the Chiliz token increases by an impressive 7.77% today, it appears that the crypto market is steadily returning to health. Additionally, other coins are beginning to show signs of life. However, we shall limit our scope to the Chiliz token. Let’s closely inspect the token’s price dynamics below.
Key Price Levels:
Resistance: $0.1372, $0.1400, and $0.1500
Support: $0.1300, $0.1200, and $0.1100
Chiliz Bulls Launch a Thrust from Support at the $0.1300 Mark
Price action in the CHZ daily market seems to indicate that buyers may have found a strong support level. It can be observed that price action took support during the previous session when it appeared that market forces battled, and the upside once won the bout. Considering the size of the corresponding price candle for the ongoing session, one can see that upside forces have grown considerably stronger.
As of the time of writing, buyers still hold most of the printed profits. Consequently, price activity now occurs above most of the Guppy Multiple Moving Average (GMMA) lines. The significant gains seen in the ongoing sessions have been reflected in the Moving Average Convergence Divergence, as its last bar is now pale red. This hints that downward forces are weaker now.
CHZ Ongoing Trend May Be Stronger than Expected
The Chiliz 4-hour market is indicating that price action may have found a significant support level. Here, it can be seen that the last price candle stands above the 50 level of the Fibonacci Retracement Level. This technically suggests that traders may be eyeing the market for a trend continuation. Price action has risen through the green lines of the GMMA lines.
Likewise, the MACD indicator has delivered a bullish crossover below the equilibrium level, and its lines afterward have taken an upward trajectory. This suggests that more bullish crypto signals may be triggered in this market as prices may approach the $0.1450 mark.
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