CHZ/USD Bulls Retrace the September 24th $0.27 Resistance Price

The Chiliz Bullish price has been progressive and continuous since the 21st of October after the initial downward direction of the market hits the $0.168 support level. This new uptrend looks very similar to the previous downtrend. The downtrend which started at the resistance of $0.27 on the 24th of September was also very continuous. 

Chiliz Market Price Statistic:

• CHZ/USD price now: $0.27
•  CHZ/USD market cap: $1,732,552,704
•  CHZ/USD circulating supply: 6.01B
•  CHZ/USD total supply: 8,888,888,888
•  CHZ/USD coin market ranking: #36

Key Levels

• Resistance: $0.30, $0.31, $0.32
• Support: $0.25, $0.24, $0.23

Chiliz Market Price Analysis: The Indicators’ Point of View

A major concern for Chiliz as the bulls market approaches the resistance level of the 23rd of September is that the buying pressure reduces as it approaches that same $0.27 resistance level. And from the look of the candle pattern that represents today’s market, this bullish trend may likely reverse in the next trading session. Most traders will be targeting this $0,27 price level as the place to take their profits. The RSI line is measuring 75%. This is in the overbought territory of the indicator. This may add to the more reason why we should expect the price of the market to reverse.

CHZ/USD 4-Hour Chart Outlook

The first 4-hour session continued the bulls market. But in the second session, we see an intense struggle as the selling pressure increases. The bearish market in the third session was much stronger. The price appears to now be going down after hitting the resistance level. But if bulls can secure support nearby, then the uptrend may continue.

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