Upside forces have suddenly come into action in this market. However, price activity remains below key technical levels. Price action is still within the reach of headwinds; nevertheless, traders might want to cash in on the ongoing trend, notwithstanding its longevity.
CHZ Statistics
Current Price: $0.03056
Market Capitalization: $317.22M
Circulating Supply: 10.16B
Total Supply: 10.16B
CoinMarketCap Rank: 121
Key Levels
Resistance: $0.03250, $0.03500, $0.03750
Support: $0.03000, $0.02850, $0.02500
CHZ Market Sees a Notable Positive Pullback
The ongoing session in the Chiliz 24-hour market has seen a notable pullback so far today. The last price candle on the token’s daily chart has reversed the market from a three-session price decline. At this point, the current price of the token can be seen standing just below the 9-day Exponential Moving Average (EMA) line. However, the bullish appearance of the corresponding price candle gives the impression that bulls are fighting back.
At the same time, the Stochastic Relative Strength Index (SRSI) lines have formed an upward crossover in the oversold region. This also shows that short-term gains might be available.
Chiliz Price Leaps Against Gravity
On the 4-hour price chart, the CHZ market can be seen leaping upward toward higher ground. The upside retracement here has continued for the second consecutive session. Moreover, price candles appear healthy in size, indicating strong momentum. Price action also stands above the 9-day EMA line.
Similarly, the SRSI indicator lines are rising steeply and are already in the overbought region. Considering this overbought condition, momentum may wear out soon, and a downward correction could resume toward the $0.02850 price level. However, in the meantime, traders may target the $0.03200 price level for short-term gains.
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