The highest of max-cap crypto assets, Chiliz (CHZ), has had a return exceeding 80% in the past 90 days. CHZ is also down 26% year to date compared with BTC and ETH which are down 57% and 60% respectively. The CHZ price rally began in the midst of a market rally. The uptick gained momentum due to a number of upsides. These included a partnership with cryptocurrency exchange Huobi Global, a nearly 25% acquisition of FC Barcelona’s Barca Studios and back-to-back network updates. This is all as it attempts get away from the ETH network and launch its CHZ 2.0 chain. The asset’s price has risen by around 3% while its volume has fallen by about 40%.
CHZ traded at $0.1942 as of the writing.
Chiliz (CHZ) Chart
After hitting a low of $0.081, CHZ began consolidating in a range between $0.09 and $0.12.
Finally, the asset broke out above its range and surged by almost 122% to $ 0.2565
Within a month. CHZ made a “Tweezer Top” candle pattern on a daily basis just below $0.2779 (78.6% Fibonacci Rectangle Level). This led to a profit booking that dropped to $0.1821. CHZ is in a strong support zone between $0.175 and $0.165 (200-Day Moving Average & Horizontal Trendline). The bulls will resume their up-move if the support is maintained.
Support 2Support 1AssetResistance 1Resistance 20.120.17CHZ0.2250.275
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