CHZ/USD Likely to Hit $0.115 Support

The Chiliz price prediction shows that CHZ may cross below the lower boundary of the channel as the coin may settle in consolidation.

Chiliz Prediction Statistics Data:

• Chiliz price now – $0.117
• Chiliz market cap – $717 million
• Chiliz circulating supply – 6.1 billion
• Chiliz total supply – 8.8 billion
• Chiliz Coinmarketcap ranking – #49

CHZ/USD Market

Key Levels:

Resistance levels: $0.250, $0.270, $0.290

Support levels: $0.025, $0.023, $0.021

At the time of writing, CHZ/USD is pushing for consolidation around $0.117 as the coin may head below the lower boundary of the channel. However, the technical indicator is returning to the bearish scenario as the Relative Strength Index (14) crosses into the oversold region which reflects the influence of the sellers over the price.

Chiliz Price Prediction: CHZ Price May Consolidate Below the Channel

As the daily chart reveals, the Chiliz price touches the resistance level of $0.127 but the sharp drop is affecting the buyers from an attempted recovery above the 9-day and 21-day moving averages. Now, CHZ/USD is likely to cross below the lower boundary of the channel to touch the nearest support level of $0.115.

At the moment, the coin is on the negative side, but the buyers are expected to come into the market to correct the current market value with a possible jump above $0.150. Meanwhile, if there is an increase in buying pressure, the price may break out of the channel to reach the $0.200 resistance. While trading at that level, a bullish continuation could reach the resistance levels of $0.250, $0.270, and $0.290 respectively.

On the other hand, if the coin drops below the lower boundary of the channel, a minimum swing below this barrier may bring the market to the support level of $0.100. Exceeding this level could take the coin to $0.025, $0.023, and $0.021 support levels.

Against Bitcoin, the bears are showing a serious commitment within the market and according to the recent negative sign, the bearish trend may continue as much as the buyers failed to push the price above the 9-day and 21-day moving averages.

However, the technical indicator Relative Strength Index (14) is crossing into the oversold region as the signal line nosedives toward the south. Therefore, any further bearish movement could hit the support level of 350 SAT and below, but a bullish cross above the moving averages may push the price to the resistance level of 1100 SAT and above.

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