Chiliz is an open-source blockchain network conceptualized for providing fintech tools and services for enhancing sports entertainment. It has developed Socios.com to facilitate sportsperson to improve their fan engagement rate and monetize their online presence. CHZ is the main governance token of this ecosystem. Let us look at the technical analysis for CHZ. Past Performance On Jul 14, 2021, CHZ opened at $0.24. On Jul 20, 2021, CHZ closed at $0.207. Thus, in the past week, the CHZ price has decreased by roughly 13.75%. In the last 24 hours, CHZ has traded between $0.199-$0.213. https://ift.tt/3hROl5u Day-Ahead and Tomorrow Currently, CHZ is trading at $0.211. The price has increased from the day’s opening price of $0.207. Thus, the market seems bullish. The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price pullback amidst a bullish trend. Currently, the RSI indicator is at 57%. It faced rejection at 62% and fell to the current level. Hence, selling pressures are slowly mounting. High selling activity will exert downward pressure on the CHZ price. However, the OBV indicator has started rising steadily. Thus, buying volumes are higher than selling volumes. Hence, the price may rise further. In a nutshell, the OBV indicator has given positive signals, the RSI indicator has given negative signals, and the MACD indicator has given mixed signals. Thus, we have to wait and watch if the bullish trend continues or a trend reversal occurs. CHZ Technical Analysis Currently, the price is above the Fibonacci pivot point of $0.206. The price may soon breach the first Fibonacci pivot resistance level of $0.212. Thereafter, we have to wait and watch if the price continues to rise or starts declining again. Currently, the price is above the 23.6% FIB retracement level of $0.209. It may soon break out of the 23.6% FIB extension level of $0.216. By day end, if the price retests and falls below these levels, then the price downtrend is strong enough to sustain till tomorrow.
The post CHZ Technical Analysis: Price May Soon Breach the First Fibonacci Pivot Resistance Level of $0.212 appeared first on Cryptoknowmics-Crypto News and Media Platform.
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