CHZ/USD Aborts Bear Market

Chiliz’s bullish trend, which started at $0.166 on Oct. 21, ran into trouble as it approached the $0.28 price level. At the climax of the bull trend, I noticed a huge struggle between supply and demand and a coma candlestick pattern signifying bull market weakness at its high levels. The same his $0.28 price level was where the previous bear market formed resistance. And that may be why the trader is selling as the market approaches his $0.28 level.

Chiliz Market Price Statistics:

• Current CHZ/USD Price: $0.22
• CHZ/USD Market cap: $1,313,424,407
• CHZ/USD Circulating Supply: 6.01B
• CHZ/USD Total Supply: 8,888,888,888
• CHZ/USD Coin Market Ranking: 34th

key level

• Resistance: $0.25, $0.26, $0.27
• Support: $0.20, $0.19, $0.18

Chiliz Market Price Analysis: Indicator Perspective

As the bull market denies again at the resistance levels, the price dropped significantly. In two days, the bear market reached $0.166. This was the price level at which the bulls previously trended. The bull market is starting another upward action just after reaching its support level.And yesterday’s bull market was as strong as the bear trend yesterday. The aim is to move the price out of the sell zone. Bollinger Bands and RSI show that market activity is already in the mid-range which is an indecision point. The RSI line is at 50.9 and in the Bollinger Bands the price is testing the moving average of the indicator. If the buyers can sustain today’s slightly bullish market, the trend will continue in the next session. The bulls might retake the $0.28 price level.

CHZ/USD 4-Hour Chart Outlook

Looking at the market through this window, you can be sure that buyers are in control of the market. The day begins with strong bullish momentum. However, many traders took profits when the price approached his $0.23, which ends his first 4-hour session with a bearish candlestick. However, the bullish trend continues as the general forces behind the market today are still very active. If the bull market breaks below his $0.23 price level, the next stop will be him at $0.25, but if this level fails again, the price may enter a price correction trend.

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