Chiliz Price Prediction for Today, May 7: CHZ/USD Increases By 1.70%

The Chiliz price prediction is likely to begin an upward trend if the market can cross above the upper boundary of the channel.

Chiliz Prediction Statistics Data:

• Chiliz price now – $0.127
• Chiliz market cap – $881 million
• Chiliz circulating supply – 6.9 billion
• Chiliz total supply – 8.8 billion
• Chiliz Coinmarketcap ranking – #55

CHZ/USD Market

Key Levels:

Resistance levels: $0.160, $0.180, $0.200

Support levels: $0.100, $0.080, $0.060

At the time of writing, CHZ/USD is showing a positive movement as the market opens today. The market is running a little retracement move toward the resistance level of $0.130 with a price growth of 1.70%. Aside from today’s little gain, the Chiliz price is still maintaining a sideways movement within the channel, and traders can expect the coin to spike above the upper boundary of the channel as soon as the bulls put more pressure on the market.

Chiliz Price Prediction: Chiliz (CHZ) May Head to the Upside

If the Chiliz price begins to follow the upward movement, traders can expect a bullish continuation from the opening price at $0.125. As the technical indicator, the Relative Strength Index (14) moves to cross above the 50-level; the potential resistance levels could be located at $0.160, $0.180, and $0.200 in the long term.

However, if the coin continues to move in the same direction, the market price may either break above the channel or head to the south. Meanwhile, looking at the price formation, a bearish breakdown may likely play out for this market, and this could roll the Chiliz price back to the long-term support at $0.100, $0.080, and $0.060 levels.

Against Bitcoin, the Chiliz price is beginning to follow a bullish sentiment as the coin moves to cross above the 9-day and 21-day moving averages. On the contrary, if the bears attempt to gain momentum, they are likely to release the selling pressure on the market, but the technical indicator Relative Strength Index (14) moves toward the 50-level, suggesting bullish signals.

However, if the coin falls and slides toward the lower boundary of the channel, it could hit the nearest support at 400 SAT. Any further negative movement could lower the price to 350 SAT and below. Looking at the upside, the coin may create additional gains and possibly crosses above the upper boundary of the channel. If the bulls manage to stay well above this barrier, the Chiliz price may locate the resistance at 550 SAT and above.

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