Will CHZ Price Hit $0.22 Soon?

• Bullish Chiliz’s (CHZ) price prediction ranges from $0.0991 to $0.2956.
• The analyst predicted XLM to hit $0.2276 and the token traverses the path as predicted.
• CHZ’s bearish market price prediction for 2023 is $0.0991.

Chiliz is the company that created the Socios platform as well as the CHZ coin. CHZ is an ERC-20 token that runs on the Chiliz blockchain, which is built on Ethereum. The token functions as cash, allowing users to purchase NFTs from Chiliz’ Socios, a fan token marketplace.

If you are interested in the future of CHZ and want to know its predicted value for 2023, 2024, 2025, and 2030, keep reading!

Chiliz (CHZ) Market Overview

What Is Chiliz (CHZ)?

Chiliz, created by the eponymous Malta-based FinTech provider, is the leading digital currency for sports and entertainment. It runs on the blockchain-based sports entertainment platform Socios which allows users to participate in the governance of their favorite sports businesses. Chiliz token is a utility token that began on the Ethereum blockchain and is the official cryptocurrency of the Socios.com platform. Fan tokens provide a mechanism for sports clubs and groups to communicate with their fans while also opening new revenue streams. 

The company’s mission is to bridge the gap between active and passive fans. Chiliz has formed collaborations with some of the world’s most prestigious sporting institutions, such as FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. In addition, it has partnerships with the UFC and other gaming organizations. By purchasing CHZ, fans gain access to a variety of fan tokens and can stake in their club.

Every sporting organization utilizing the Chiliz technology has a limited supply of fan tokens available at an initial FTO (fan token offering) price. These tokens are issued on a first-come-first-served basis, with Chiliz disclosing the starting price and total market capitalization before the sale. The native CHZ token is used to acquire fan tokens and serves as the platform’s internal currency. 

Afterward, fans can vote on the Socios platform using their fan tokens, a procedure made possible by smart contracts. The level of influence fans have is determined by the clubs. Decisions might range from the design of new jerseys to the pairing of teams in exhibition games.

Chiliz was a pioneer in the direct involvement of average sports fans in the decision-making process of clubs and organizations. The Chiliz Blockchain Campus is a privately-owned crypto incubator focused on accelerating blockchain technology adoption across Asia and Europe. Even though it will most certainly have 80-100 teams as part of its network by the end of 2021, the firm estimates that it is only at 10% of its full capacity.

Chiliz is available on multiple blockchain platforms, including Ethereum, Binance Smart Chain, and Tron. Fan tokens are minted on its Socios sidechain using a proprietary crowd control mechanism, ensuring that fans vote exclusively in publicly verified polls. The sidechain employs a consensus process based on proof of authority. 

Proof of authority is mostly utilized by private organizations with closed blockchains and only users within its ecosystem participate. It is less decentralized than other consensus mechanisms, but it is also very scalable and safe, making it an excellent candidate for a sidechain. Certik has audited the CHZ token.

Chiliz (CHZ) Current Market Status

According to CoinMarketCap, Chiliz (CHZ) is currently trading at $0.125505  at the time of writing with 6,768,673,450 CHZ coins in circulation. CHZ has a 24-hour trading volume of $114,999,416, and during the previous 24 hours, the price of CHZ increased by 6.41%.

At the moment, the most popular exchanges to trade Chiliz (CHZ) are Binance, OKX, BingX, ByBit, and MEXC. Let’s continue with our CHZ price research for 2023.

Chiliz (CHZ) Price Analysis – Keltner Channel

The Keltner channel is a technical indicator introduced by American grain trader, Chester W. Keltner to gauge the volatility of the market. For this purpose, it has three bands; the Upper band, Middle band (EMA), and lower band. 

The upper band is calculated by adding twice the Average True Range (ATR) to the EMA (middle band), while the lower band is calculated by subtracting twice the ATR from the EMA.

The chart above shows a white rectangle that denotes the expansion of the Keltner channels. When the bands widen it means that there is going to be more volatility. Or in other words, the prices could drastically drop or increase. 

Additionally, when the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, if a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded. This applies vice versa as well). This behavior could be seen inside the white rectangle. 

The red highlighted sections in the charts show how CHZ touched the lower band of the Keltner channels and thereafter it retraced to the EMA. Currently, CHZ is fluctuating close to the EMA and it seems that CHZ has crossed over to the first half of the Keltner channel. Additionally, since the Keltner channel is facing sideways, we could expect the prices to keep on consolidating.  

Chiliz (CHZ) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). Moreover, the upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. 

This concept has been followed since as per empirical law for the datasets it is believed that data for a normal distribution will 95% of the time fall within two standard deviations of the mean. Hence, following this law, we could expect the prices of security to remain with the Bollinger bands 95% of the time. 

Additionally, when the bands widen it means that there is going to be more volatility in the market. In other words, there could be a drastic surge or drop in prices in the future. And when the band contract, the opposite happens which is less volatility.  Moreover, when a security touches the upper or the lower Bollinger band, we could expect the prices to return to the middle band. 

Notably, the Bollinger band behaves very closely with the Keltner channel. For instance, if you were to use both the Bollinger bands and Keltner channel indicators for a cryptocurrency, you would see that almost most of the time both of the indicators overlap. However, the only difference between with Bollinger band and the Keltner channel is that the Bollinger bands use Standard Deviation while the Keltner channel uses Average True Range.

Chiliz (CHZ) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. When considering the green rectangle section in the chart below we can see that when the RSI line is above the Signal. As such CHZ is bullish or gaining value but when it is below the SMA it is bearish. 

Additionally, the RSI compares the gains of the securities against the losses it made in the past. This ratio of gains and losses is then deducted from the 100. 

If the answer is less than 30, then we call that the price of the security is in the oversold region. This means that many are selling the security in the market, and as such the security is undervalued.  Moreover, as per the Supply-demand curve theory, the price is supposed to drop when there is an increase in supply. 

If the answer is more than 70 then the security is overbought as many are buying. Since many want to buy the security the demand increases which intuitively increases the prices.

Additionally, the RSI could be used to determine how strong a trend is. For instance, when a cryptocurrency is bullish or reaching higher highs, then the RSI line also should be making higher highs in unison. If not it means that although the cryptocurrency is on a bullish trend it is losing value and hence a trend reversal could be lurking around the corner. This could be seen in the red section highlighted in the chart. 

Although CHZ was making higher, the RSI was making lower highs, hence, the trend reversed.

However, the RSI could also give false alarms for breakouts. Although we may expect, the prices to retrace if it goes to the oversold or overbought region, the prices also can stay in the oversold or overbought region for an extended period. As such, traders should be wary of it and let the market saturate before making vital decisions.

Chiliz (CHZ) Price Analysis – Moving Average

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA smoothens down all values whereas the Exponential Moving Average gives more weightage to the current prices.  As such, the MA equation has a greater reference to the present prices which is required in the volatile industry of crypto. 

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the coin is bullish (green highlighted section). Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish (red highlighted section).  

When looking at the highlighted circles in the above chart, we can see that CHZ tested and broke above the 50-day MA. Thereafter, it gained enough momentum to break the 200-day MA too. However, it wasn’t able to stay above while holding on to the position it gained for a long time. As such, CHZ crashed below both the Moving Averages (MA). 

Since CHZ is currently, testing the 50-day MA traders may consider giving the market some time to saturate, as CHZ may break the 50-day MA or may be rejected. Hence, to take out the factor called uncertainty out of the equation it would be better for traders to take a step back.

Chiliz (CHZ) Price Prediction 2023

When looking at the chart above we can see that CHZ is fluctuating taking the cup and handle pattern. While forming the cup and handle pattern CHZ seems to be increasing exponentially. If this exponential increase is to continue, or if this is a reciprocation of CHZ’s behavior in August 2022 as shown then CHZ could break Resistance 1 at $0.1168 and move to Resistance 2 at $0.2276 in no time, as shown by the green trajectory. 

Another possibility is that since the Bollinger bands are squeezing, as such, CHZ could move sideways. However, there also lies a possibility that CHZ could get rejected from Resistance 1 and thereafter consolidate. Moreover, if the bears restrict CHZ’s movements in the downward direction then CHZ may be seeking assistance from Support 1 at $0.0991.

Chiliz (CHZ) Price Prediction – Resistance and Support Levels

When considering the chart above we could see that CHZ was fluctuating between Support 1 at around ($0.10-$0.15) and Resistance 1 at around ($0.30-$0.35) since early December 2022. Although Resistance 1 seems to be an unbreakable hurdle, if the CHZ bulls are triumphant, then CHZ could break it. However, since CHZ is close to Support 1 it could present a classic entry point for traders. The range between Support 1 and Resistance 1 offers a price action of almost 240%, hence traders may look to capitalize.

Chiliz (CHZ) Price Prediction 2024

The next year could be significant in the cryptocurrency calendar as it is the year of Bitcoin halving. Since the rewards for mining and validating will be slashed in half, there will be fewer validators. This means there will be less BTC mined and the supply will shrink and as a result, the price could surge to $0.8451. 

Since all cryptocurrencies rise and fall in tandem with BTC, we could expect XLM to reciprocate this behavior. As such Stella (CHZ) could rise to somewhere close to $0.3306. 

Chiliz (CHZ) Price Prediction 2025

The Bitcoin halving the previous year suggests that most cryptocurrencies will likely break through additional psychological resistance levels. Chiliz’s (CHZ) price might grow to $1.2786 during the next three years. Furthermore, hitting this level may not be challenging for Chiliz (CHZ).

Chiliz (CHZ) Price Prediction 2026

Chiliz’s (CHZ) price might grow to $2.0264 in 2026. Furthermore, hitting this level may be relatively easy for Chiliz (CHZ) because the new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. 

Chiliz (CHZ) Price Prediction 2027

Since Bitcoin will be cut halve, investors anticipate a bullish run in 2028. As such, the Chiliz (CHZ) price might soar to $3.2440. Furthermore, hitting this level may not be easy for Chiliz (CHZ) as other mediums, such as short-term and long-term price objectives for purchase or sell orders, may be discovered.

Chiliz (CHZ) Price Prediction 2028

Bitcoin will undergo a halving in 2028. Thus, a bullish run may follow 2027’s expected market consolidation. The effect of media coverage of the halving of Bitcoin in any given year is to blame. In the next six years, Chiliz’s (CHZ) price could rise to $4.1956. 

Chiliz (CHZ) Price Prediction 2029

By 2029, there could be a lot of stability in most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of Chiliz (CHZ) to $4.9682 by the end of 2029.

Chiliz (CHZ) Price Prediction 2030

The cryptocurrency market experiences high stability due to early investors’ holding activities to maintain future gains in the price of their assets. We could expect the price of Chiliz (CHZ) to trade around $6.1152 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the previous years.

Chiliz (CHZ) Price Prediction 2040

According to our long-term Chilliztoken price estimate, Chiliz (CHZ) prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $9.3534 by 2040. If the market turns bullish, the price of Chiliz (CHZ) could go up beyond what we predicted for 2040.

Chiliz (CHZ) Price Prediction 2050

According to our Chilliztoken forecast, the average price of Chiliz (CHZ) in 2050 might be above $12.2796 If more investors are drawn to Chiliz (CHZ) between these years, the price of Flare in 2050 could be far higher than our projection.

Conclusion 

If the investors see potential in Chiliz (CHZ) and add it to their portfolio then we will be able to see exponential growth in Chiliz (CHZ) prices surpassing $12. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

More Crypto Price Predictions:

Post Views: 1,015