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Chiliz Technical Analysis: Retail Investors Accumulate Hard, May Drive CHZ Price High Soon!

Chiliz Price

Key Takeaways:

Current Price $0.24
Market Cap $1.45 billion
Circulating Supply 6 billion
Total Supply 8.88 billion
Vol (24H) $906.55 million
Change (7D) +17.28%

Technical Analysis for August 2022

The Chiliz price was heavily stuck up within a deep bearish trend for a long time, but after the May crash, it began with a parabolic recovery. The platform received huge buying volume in the past couple of days which enabled an upswing of more than 40% in just 2 days. Currently, the price is facing a minor bearish action but soon may regain bullish momentum to rise high. 

The CHZ price is hovering slightly above the resistance at $0.24 from early trading hours, displaying the possibility of resuming an uptrend soon. While the monthly close is around the corner, the asset may soon absorb significant bullish momentum. Therefore, the asset may achieve levels above $0.3 by the end of August 2022.

Read more: Why is Chiliz[CHZ] Coin Price Rising Today?

Technical Analysis at a Glance

The Chiliz price after consolidating for a couple of days in early 2022, dropped hard to hit the lows. However, the asset is closer to regaining the lost levels as the trend is heavily ranging towards the north. The platform has accumulated enough buying pressure and hence the upward trajectory may continue despite the current barrier. 

Short-Term The CHZ price is pretty bullish in the short-term, displaying fewer chances of a steep pullback 
Mid-Term The asset is expected to continue surging high nullifying the bearish impact and reach the target
Long-Term The Chiliz price has just woken up after an extended consolidation and hence may continue its rally towards the north

Technical Indicators & Pivot Levels

Indicator Value (STF/HTF) Action (STF/HTF)
Relative Strength Index(RSI) 69.59 / 62.23 Buy / Buy
MACD 0.013 / -0.015 Buy / Sell
Average Directional Index(ADX) 53.89 / 43.46 Buy / Buy
Ultimate Oscillator 65.21 / 58.92 Buy / Buy
Bull-Bear Power 0.035 / 0.12 Buy / Buy

Pivot Levels

Moving Average Short Term Long Term
MA 5 $0.24 $0.17
MA 10 $0.23 $0.13
MA 20 $0.208 $0.14
MA 50 $0.204 $0.23
MA 100 $0.17 $0.22
MA 200 $0.14 $0.11

While the entire crypto space is hung in between consolidation and fear of upcoming bearish trend, CHZ price is flashing huge buy signals. Most of the indicators are bullish in all the time frames and hence a significant upswing may be fast approaching. 

However, the main concern in the short-term is that the asset is highly volatile & hence can expect huge price variations. 

On the other hand, after reaching significant levels, the price is expected to lay down at a steady rally. Mainly due to the reason that the ATR displays less volatility in the higher time frame. The ADX is also extremely bullish which signals the upswing to prevail for a longer time ahead. 


Source: Santiment

Source: Santiment

Source: Santiment

Chiliz (CHZ) Technical Analysis for Short Term

Source: Tradingview

Chiliz (CHZ) Technical Analysis for Long-Term

Source: Tradingview

Where & How to Buy Chiliz(CHZ)?

Chiliz, one of the popular NFTs, can be purchased easily on CoinDCX, India’s most valued crypto investment app

Here you can explore attractive products like Crypto Investment Plan, which enables you to invest in weekly installments and CoinDCX Earn, which allows you to make crypto passive earnings from your idle crypto investments. 

Therefore, download the CoinDCX App on your smartphone and register now!


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