Chiliz is a blockchain network that provides fintech services primarily for the sports and entertainment industry. It enables entities from these industries to engage and monetize their fanbase or target audience. CHZ is the native token that can be used as an alternative payment mechanism for conventional products. Past Performance On March 4, 2021, CHZ opened at $0.085. As of March 10, 2021, the closing price of CHZ was $0.249. Thus, in the past week, the price has soared by approximately 66%. In the last 24 hours, the CHZ price has fluctuated within the price range of $0.240-$0.280. https://ift.tt/38s7PbG Day-Ahead and Tomorrow Today, CHZ started trading at $0.249, and currently, CHZ is trading at $0.261. Thus, the price is rising. The market is bullish. The OBV indicator has fallen steeply. Thus, selling volumes are much higher than buying volumes. Heavy offloading of CHZ crypto will exert downward pressure on its price. Thus, we can expect a price drop. The MACD and signal lines are negative too. A bearish crossover by the MACD line over the signal line gives further credence to bearish market momentum. Hence, the price will struggle to rise. In other words, a price pullback is on the horizon. The RSI indicator is at 42%. It has just rallied from the 30% mark. Intraday traders can go long in the CHZ market now. As buying pressures start mounting, the price will start rising again. CHZ Price Analysis At present, the price is above the Fibonacci pivot point of $0.256. As the oscillators are pointing towards a price pullback, the price may fall up to the first support level of $0.241 in some time. However, it is too early to confirm a bearish trend. The price has tested and fallen below the 23.6% and 38.2% FIB retracement levels of $0.271 and $0.265, respectively. By the end of the day, if the price falls below the 76.4% FIB retracement level of $0.249, then probably the bears have taken control over the market. In that case, the price will drop further tomorrow.
The post CHZ Indicators Point to a Price Fall – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
