Chiliz Technical Analysis: Token Trends Up Over 55 Day EMA Support Level

1 min read

  • Chiliz token fights to stay above 55-EMA during intraday.
  • 24-hour trading volume is at $133 million.
  • The CHZ/BTC pair is trading negative by -4.3% at 0.00000490 BTC.

On the daily chart of CHZ token, the Moving Average Exponential (EMA) consisting of 8,13,21,55-EMA acts as a reliable support level in the coin price movement. Investors may observe the price is sustaining above the yellow line, so until the price resides above all the EMA’s, it will assure an uptrend in Chiliz.

Trading volume (27.942 M) is low to the 20-day moving average (199.64 M). The volume is low, so the cost is struggling. Investors may also notice that the volume bar on the chart decreases. This indicates that unusual volatility is common on the following trading days.

CHZ Token Price Slowly Heading Towards The Demand Zone

CHZ token daily technical chart and price trend show an uptrend. Based on the price action, the supply zone is located at 0.45 USDT. On the other hand, the demand zone to look for is 0.25 USDT. Therefore, the chart shows a bearish harami candlestick pattern during the day.

The RSI indicator gave a signal (bearish) with 47.50, projecting a sell signal in the currency for the short-term. Investors can observe a declined slope from 80 to 47 on the index. It can plunge in future trading sessions.

The MACD indicator gives (bearish) cross over the signal line on October 20, demonstrating a sell signal in the token. Additionally, Investors can see the crossover and emerging red bars on the Histogram index.

Conclusion

Chiliz price for today is $0.313966 with a 24 hour trading volume of $133,674,211. CHZ prices have fallen 1.6 percent in the past 24 hours. Rotating supplies are CHZ 5.3 billion and the total supply is USD 8.89 billion.

The RSI and MACD point to a sell signal, and the traders have prompted low volume. In fact, the cost was bounced from the demand zone but struggling to make way towards the supply zone. Likewise, the general market outlook is that this pattern will continue to rise over the next few trading days.

Resistance Level: $0.45

Support Level: $0.25

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