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Sellers’ momentum is increasing in Chiliz market
Chiliz (CHZUSD) Price Analysis – August 27
In case sellers put in more asset the key support level of $0.17 may be broken downside, Chiliz may decrease to the low of $0.13 and $0.10 may be reached. When buyers increase their momentum, resistance level of $0.22 may be broken upside then, $0.26 and $0.28 levels may be tested.
CHZ/USD Market
Key Levels:
Resistance levels: $0.22, $0.26, $0.28
Support levels: $0.17, $0.13, $0.10
CHZUSD Long-term Trend: Bearish
Chiliz is under sellers’ control. The price bottomed at the support level of $0.10. The price consolidate for many days at the same level. The bulls gained momentum and push the price to break up the resistance levels of $0.13 and $0.17. It pulled back and retest the $0.17. The price broke up the resistance level of $0.22 and tested the resistance level of $0.26 on August 23. The price is pulling back at the moment.
The daily chart has shown that buyers are dominating the market. The price action has formed a double bottom chart pattern on the daily chart. At the moment, the price is carrying out retracement. In case sellers put in more asset the key support level of $0.17 may be broken downside and the low of $0.13 and $0.10 may be reached. When buyers increase their momentum, resistance level of $0.22 may be broken upside then, $0.26 and $0.28 levels may be tested. The Relative Strength Index (14) is at 59 level pointing down to indicate sell signal.
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CHZUSD Medium-term Trend: Bearish, There is a Bullish Signal for Tamadoge
Chiliz is bearish in the 4-hour chart pattern. The crypto performance has been under the bulls’ pressure in the 4 hour chart. After the breakout from the long time consolidation. The price steadily increase. The resistance level of $0.26 was tested on August 24. The sellers’ pressure rejected the increase and it is currently pulling back.
The price is trading below 9 periods EMA and 21 periods EMA as an indication that the sellers are in control. The Relative Strength Index period (14) bend down at 47 level indicating sell signal.
Tamadoge sold for 1 USDT to 100 TAMA (1 TAMA = 0.01) in the first phase, in which a beta sale of 200 million tokens were made available to the public. Since then there have been successive sale tranches of 100 million tokens. Half of the tokens on offer in the presale have now been sold. In total 1 billion TAMA tokens are up for sale, with the price rising on each occasion. TAMA has a total supply of 2 billion, so early bird buyers in the presale are able to purchase a generous 50% of supply. Tranche prices will keep rising until the price reaches $0.03, equivalent to 3 times the initial beta sale price. The next price to beat is in the sixth phase when 1 USDT buys 44.44 TAMA.
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