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A two-day massive steep dive of Chiliz’s price was what follow its rejection at the resistance level of $0.273. The bearish run met strong support at $0.150 and a massive price rally ensued. Half of the ground covered by the bears was recovered. The bull market now faces a new resistance price of $228 which is lower than the previous one.
Chiliz Market Price Statistic:
- CHZ/USD price now: $0.2003
- CHZ/USD market cap: $
- CHZ/USD circulating supply: 6.01B
- CHZ/USD total supply: 8,888,888,888
- CHZ/USD coin market ranking: #34
Key Levels
- Resistance: $0.25, $0,26, $0.27
- Support: $0.19, $0.18, $0.17
Chiliz Market Price Analysis: The Indicators’ Point of View
A new higher support now goes along with the new lower resistance. After the price rejection on November 12, the market finds new higher support at $0.200. When we look at this data, we discover that although the tug-of-war between buyers and sellers get intensifies, sellers are yet having the upper hand. Selling pressure seems to be pegging the price from appreciating. The measurement of the market selling momentum according to the RSI is 46. And the price actions are below the two moving averages- one is a 9-day moving average and the other is a 20-day moving average.
CHZ/USD 4-Hour Chart Outlook
The upper and the lower band of the Bollinger band converge against the price action as it moves along the $0.2 supports level. This market behavior increases the probability of a bearish price breakout. The bulls hold onto their ground, but they can’t advance the price to the upside, while the resistance price level comes closer and closer to the support level. This increases the possibility of a bearish price breakout. However, if buyers can remain strong at this level, we may see a price consolidation and then an eventual bullish price breakout.
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