Will CHZ Price Break the Channel?

The Chiliz price forecast is signaling bullishness, heading upward by making higher high structures. It is heading in the upward direction and trading above the key moving averages, which showcase bullishness. 

The Chiliz price analysis for 2024 is bullish and indicates it may outperform other altcoins in terms of good returns.

CHZ crypto’s price is in a strong uptrend and bullish momentum is still intact. It surged by  34% in the current month, signaling a breakout of the $0.11664913 obstacle.

In the last weeks, the Chiliz price was heading upward, buyers took control and succeeded in breaking out of the higher range. 

The Chiliz price had a remarkable rally, supported by bulls. It shows that buyers had entered long positions and the price is likely to maintain the previous gains. The 50-day EMA and 200-day EMA sloped upward to indicate an uptrend.

At the time of writing, the Chiliz price is trading at $0.10142622 with an intraday increase of 0.81%. The 24-hour volume to market cap is 37.11%.

As per the technical summary of Trading View for CHZ/USD, out of 26 indicators 3 are on the sell side, 10 are on the neutral side, and 13 are on the buy side. The maximum indicators are showcasing the buying outlook on the technical chart and the signaling buying signals.

The CHZ price is trading in the bullish territory and close to the channel lower trendline near $0.10, which, if surpassed, would lead to a massive rally toward the cluster of $0.12. Moreover, the price action showcased an uptrend, favoring the bulls, and suggesting follow-on buying action. Furthermore, the price is trading above the key Fib level and showing bullishness.

Chiliz Price Technical Analysis

The Chiliz price prediction remains bullish for February as long as it stays above the key EMAs. The price chart of the CHZ crypto suggests bulls are looking more active than bears.

However, if the price faces rejection, one may see a minor profit taken from the higher levels. Indicators like MACD, RSI, supertrend, Bollinger band, and EMAs have all turned bullish. Therefore, it seems that CHZ bulls are ready to hit new highs.

If the buyers’ volume increases, the price may see new highs in the daily timeframe. However, to reach the upper levels the Chiliz crypto needs an influx of buyers.

Conclusion

The Chiliz price prediction for 2024 is bullish and indicates that the CHZ crypto may perform well. The breakout above the channel looks possible, so more upward momentum is possible. The Price analysis suggests bulls are active in CHZ and they appear ready to hit new highs.

Technical Levels

Resistance level: $0.11598007.

Support level: $0.09421567.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.