Chiliz Crypto: is CHZ Crypto Price Ready to Flip the Trend?

• 1 Chiliz’s stock price is trading below crucial moving averages showcasing bearishness on the daily chart frame.
• 2 CHZ price is taking a rejection from the 50 EMA curve.

Chiliz price forecast indicates that the Chiliz crypto may show further depreciation in its value within the next few months. Presently, the Chiliz price is down by 7.35% over the past month, and according to the price action, it is facing bearish pressure on the daily time frame.

At present, the bears are in charge of the trend where they are maintaining firm command over the price action, although the bulls attempted to take control. Despite the bullish optimism, the buyers were unable to break above 200 EMA, and bears regained supremacy over the price action on the 1-day chart.

Chiliz crypto is under the key exponential moving averages within the bears’ grasp. The price is facing resistance from the 50 EMA at present on the daily time frame. The price is facing substantial selling pressure in the supply zone which indicates that bears may push its value down further in the near future.

Technical indicators suggest that bears hold the edge over the price action. The price pattern, oscillators, EMAs, and volume are moving in tandem, giving similar signals.

At the time of writing, CHZ price was $0.05767 with an intraday gain of 3.56%, signaling bearishness. Moreover, the trading 24-hour volume is $71.074 Million.

Technical Analysis of Chiliz Crypto Price in 1-D Time Frame

Source: Chiliz.1D.USD by TradingView

At the time of publishing, Chiliz crypto (USD: CHZ) is below the 50 and 200-day simple moving averages (SMAs), which are supporting the price trend.

However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the CHZ price is expected to move downwards giving bearish views over the daily time frame chart.

The current value of RSI is 47.15 points. The 14 SMA is above the median line at 45.63 points which indicates that the Chiliz crypto is bearish.

The MACD line at -0.00098 and the signal line at -0.00075 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the CHZ crypto price.

Summary

Chiliz crypto (USD: CHZ) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the CHZ crypto price. Chiliz price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment. The current scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimize losses.

Technical Levels For Chiliz Crypto

Support Levels: $0.05006 and $0.04500.

Resistance Levels: $0.06077 and $0.06807

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

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