Chiliz Price Prediction for Today, November 7: CHZ/USD Bulls Break the $0.27 Price Level but Can’t Sustain the Victory

The previous bullish trend was very strong and progressive, and faced little bearish resistance on the way. But as the Chiliz price approached the price level of September 24, the bullish momentum reduced. The price may now be starting another downtrend. However, even at this point, some traders are ready to buy Chiliz at this price.

Chiliz Market Price Statistic:

• CHZ/USD price now: $0.26
•  CHZ/USD market cap: $
•  CHZ/USD circulating supply: 
•  CHZ/USD total supply: 270,000,000
•  CHZ/USD coin market ranking: #

Key Levels

• Resistance: $0.30, $0.31, $0.32
• Support: $0.25, $0.24, $0.23

Chiliz Market Price Analysis: The Indicators’ Point of View

In the 16th hour of yesterday’s market, the price of CHZUSD was already above the previous high. However bearish resistance at $0.29 was very strong. According to the Bollinger indicator there is still potential for a continuation of the bullish trend. The upper band of the indicator has been largely untouched by today’s bearish market. Also, today’s candle would seem to indicate a bullish recovery as the Bulls seek to find support near this challenging resistance level.

CHZ/USD 4-Hour Chart Outlook

At the point of resistance a bearish engulfing candle forms, indicating an imminent bearish trend. However, the bulls may already be cutting short the bearish advances as a new support has already appeared at $0.26. The increasing struggle between demand and supply is making the Bollinger bands converge, but the current price is still below the 20-period moving average. The RSI also has this same upward price retracement sentiment as it shows a 51 point market strength.

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