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The Chiliz market went on a steep price dive on November 8 after the price hits $0.28. It was almost like a unanimous decision by traders to take profits at the height of that price level. In two days the price decline hits $0.15. This was the support price level from where the market price began to rebound. Now as the price of the market nears the $0.28 price level, the price was rejected and in today’s market, the price goes the bullish way
Chiliz Market Price Statistic:
- CHZ/USD price now: $0.25
- CHZ/USD market cap: $1,512,017,022
- CHZ/USD circulating supply:6.14Billion
- CHZ/USD total supply: 8,888,888,888
- CHZ/USD coin market ranking: #30
Key Levels
- Resistance: $0.28, $0.30, $0.35
- Support: $0.200, $0.150, $0.100
Chiliz Market Price Analysis: The Indicators’ Point of View
After a support level was secured at $0.15, the bull market faced rejection at $0.228. But because the force behind the trend is still strong, it resumed its upside journey until it came to $0.28. The bearish move in today’s market has a strong outlook. But its progress remains pegged at around the $0.25 price level. If the demand force behind the market trend remains strong as we have noticed in the previous session, the trend may continue. Today’s bearish market move is yet to cross the 20-day moving average. And the RSI line is yet to cross the signal line of the RSI indicator. Likewise in the MACD indicator, the MACD line is yet to cross the MACD signal line. There for, a bearish trend cannot be confirmed yet for the Chiliz market. We need to patiently wait to see the direction of the market in the next session.
CHZ/USD 4-Hour Chart Outlook
The day’s trading session opens with the failure of the buying pressure to advance the price beyond the November 8 resistance price level. A massive bearish move took place in the second trading session. But since the third session, it looks like the buyers have successfully secured a new support level at around $0.25 price level. The momentum of the selling pressure is waning at this level.
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