Chiliz comes with a unique plan with their ‘I am more than a fan debit card,’ which is available on the web platform. Fans with ‘Socios.com Debit Card’ can get more rewards and other benefits from their favorite clubs. It will be rolling out in November this year.
This company has secured massive partnerships with iconic sports teams around the world, making it one of the most popular cryptocurrencies. The developers are also working on adding more features so that fans and communities can engage with their favorite sports team. They aim to become a leading fintech provider for the sports and entertainment industries.
Chiliz is a decentralized digital currency that runs behind the blockchain network of the Socios.com fan engagement platform. This web-based company was founded in 2018 by Alexandre Dreyfus. He aims to establish fan tokens as the ultimate engagement tool and a new revenue generation model for the sports industry.
With this aim, he opens the voting right of fans for favorite sports teams. Fan token holders can vote for their favorite teams and become active participants rather than passive watchers. In short, the fans have the opportunity to influence the decisions of real-world teams.
CHZ is a cryptocurrency that allows you to buy favorite sports teams’ tokens which are fully fungible digital assets based on the ERC-20 model. On Socios.com, fans can purchase branded fan tokens with CHZ. The teams include big brands like Juventus, FC Barcelona, Atletico de Madrid, CAI, and UFC. The token holders have a unique voting right ownership.
On the short-term chart, Chiliz has been in an uptrend, but the price has been down more than 5% in the last 24 hours. Candlesticks are mainly forming in the upper range of the Bollinger Bands, but we can find that $0.25 is a resistance of CHZ coin, and it may take support around $0.20.
We think it is an ideal time to buy for the short term because it will form another higher high. Most technical indicators are bullish for the short term. Should you invest in Chiliz for the long term? Click here to read our CHZ predictions and get the answer.
After taking support of $0.09, Chiliz has been in an uptrend which is good for long-term investment, but the red weekly inverted hammer candle shows it is not an ideal price to buy for the long term.
CHZ may come down to the level around the baseline of the Bollinger Bands, which can be a great opportunity for long-term investment. Still, you can accumulate some coins at this stage or invest for the short term with a target and stop loss.
Source: https://www.cryptonewsz.com/chiliz-records-profit-booking-after-a-20-percent-upmove/