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CHZ Faces Rejection at $0.25; TAMA, Buy and Buy Long!

CHZ Faces Rejection at $0.25; TAMA, Buy and Buy Long!
CHZ Faces Rejection at $0.25; TAMA, Buy and Buy Long!

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The Chiliz (CHZ) price is moving down synchronously within the market, and its sell-offs may be extended below the 21-day moving average.

Chiliz Prediction Statistics Data:

• Chiliz price now – $0.23

• Chiliz market cap – $1.45 billion

• Chiliz circulating supply – 6 billion

• Chiliz total supply – 8.8 billion

• Chiliz Coinmarketcap ranking – #40

CHZ/USD Market

Key Levels:

Resistance levels: $0.32, $0.34, $0.36

Support levels: $0.18, $0.16, $0.14

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At the time of writing, CHZ/USD is changing hands to $0.23, down from the opening trade at $0.25. The coin is moving synchronously towards the 9-day and 21-day moving averages. The Chiliz price is mainly influenced by speculative sentiment and technical factors. However, the coin is known for its herd behavior, as everything rises and falls at the same time.

Chiliz (CHZ) May Retreat as Tamadoge (TAMA) Remains Bullish

The Chiliz price is moving below the opening price of $0.25 level as bulls couldn’t hold their ground. The widespread retracement on the market pushes the coin toward the moving averages with the next local support created by $0.23. This level should limit the correction and serve as a starting point for another upward wave.

However, the sell-off is likely to gain traction with the next focus on $0.18, $0.16, and $0.14 support levels. Meanwhile, on the upside, the initial resistance is created above the channel at $0.28. Traders may need to see a sustainable move above this level to test $0.30. The further bullish movement could touch the $0.32, $0.34, and $0.36 resistance levels as the technical indicator Relative Strength Index (14) prepares to cross below 70-level, indicating bearish signals.

Against Bitcoin, the Chiliz price faces rejection below the upper boundary of the channel, as the coin remains above the 9-day and 21-day moving averages. However, the bulls may attempt to push the coin above the channel, but the technical indicator Relative Strength Index (14) nosedives to the south. The critical support level could be located around the 900 SAT and below if the selling pressure increases.

CHZBTC – Daily Chart

Moreover, if bulls begin to power the market, the coin may likely break above the upper boundary of the channel to find the potential resistance level at 1400 SAT and above. Meanwhile, the Chiliz price is currently changing hands to 1099 SAT, and a spike in volatility could occur according to the technical indicator.

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