CHZ/USD Could Face Major Correction Below $0.130

The Chiliz price prediction is fighting to trade near the resistance level of $0.130 as the coin retreats below the moving averages.

Chiliz Prediction Statistics Data:

• Chiliz price now – $0.127
• Chiliz market cap – $876.2 million
• Chiliz circulating supply – 6.9 billion
• Chiliz total supply – 8.8 billion
• Chiliz Coinmarketcap ranking – #59

CHZ /USD Market

Key Levels:

Resistance levels: $0.160, $0.170, $0.180

Support levels: $0.100, $0.090, $0.080

CHZ/USD opens today’s trade with the opening price of $0.128, during the European session; the coin begins to drop toward the support at $0.125. At the time of writing, the Chiliz price is changing hands at $0.127, slightly down by 0.24% after a rebound from the $0.129 level. At the moment, the daily chart reveals that the technical indicator Relative Strength Index (14) is crossing below the 50-level, which means the coin could be vulnerable to further losses.

Chiliz Price Prediction: Will CHZ see a Further Downside?

According to the daily chart, if the sellers bring the Chiliz price beneath the daily low at $0.126, the next support level could head toward the lower boundary of the channel and a further downside may come to play out within the market in the negative moves. Moreover, if the $0.120 support breaks, further support levels could be located at $0.100, $0.090, and $0.080 while the resistance levels could be found at $0.160, $0.170, and $0.180 should in case the Chiliz price crosses above the channel.

Moreover, the technical indicator Relative Strength Index (14) nose-dives below the 50-level, if the market successfully gains more downsides, the increased bearish pressure could drive the Chiliz price toward the lower boundary of the channel.

Against Bitcoin, traders can see that the Chiliz price is following a bullish movement. However, as the price increases, buyers keep pushing the price to the upside as it could reach the resistance level of 500 SAT where the nearest target is located. Meanwhile, the continuation of the uptrend could hit the main resistance level at 550 SAT and above.

Nevertheless, if the sellers bring the coin below the 9-day and 21-day moving averages, it could reach critical support at 360 SAT and below. However, the Relative Strength Index (14) is now focusing on the upside, indicating that more buyers may come to play.

Alternatives to Chiliz

At the time of writing, the Chiliz price is ranging, and the coin is likely to break to the upside to gain more uptrends. However, CHZ/USD is currently hovering at $0.120 as it prepares for the upside. Meanwhile, the coin could recover toward the channel or extend its decline below the moving averages. Nonetheless, another new meme coin is exploding at the moment, it’s called Love Hate Inu (LHINU), and it’s a Vote-to-Earn crypto that’s primed to completely disrupt the online survey industry. In its early days of the presale, Love Hate Inu has raised more than $5.5 million already and is burning through the presale stages.

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