Most cryptocurrencies ranking in the top ten list have stagnated this week after a massive rebound that started on July 20. However, some altcoins are still on a strong bullish trend, making incredible gains that have propelled the coins to new highs. Chiliz is a fan token that is still making double-digit gains.
Chiliz is trading at $0.372 at the time of writing after a 17% gain in 24 hours.
CHZ Price Analysis
The CHZ token is among the best gainers in the past 24 hours. The coin has managed to break the record and shoot to higher levels that even surpass the gains made in mid-June. The CHZ uptrend shows signs of maintaining, given that buyer and market support are strong.
Chiliz is headed to the next resistance level of $0.42, which could be reached during intraday trading hours due to increased demand. If this token manages to reach here, we could see it rally even further and surpass $0.50.
In the past seven days, CHZ’s price has increased by more than 40%, and volatility has increased, meaning that investors need to be ready for the next major up streak or downtrend.
If there is a downtrend, CHZ could decline to consolidate at 0.28, going back to trading at July levels. However, such a decline will only happen if there is an extreme lack of market support, given that interest in CHZ is currently high.
Lionel Messi’s news of joining Paris Saint-German (PSG) has increased the buzz surrounding Chiliz. As part of the two-year deal signed with PSG, the football club has stated that it will reward him with fan tokens at the Socios platform to boost fan engagement. Whilst the amount allocated to Messi has not been revealed; it has increased the hype surrounding CHZ.
Besides PSG, Chiliz fan token has managed to gain adoption across other football clubs, including Aston Villa, Arsenal, Everton FC, Leeds United, among others.
Where to Buy CHZ
If you want to buy the CHZ token, you can do so on the following platforms:
eToro is one of the leading social copy trading platforms. It is a user-friendly platform because it allows new traders to copy the trading strategies of expert traders. eToro’s trading fees are also low.
The other platform where you can also buy the CHZ token is Coinex. This platform supports a wide variety of altcoins, making it suitable if you want to diversify your portfolio. Its trading fees and commissions are also competitive.
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