The CHZ coin price has increased by over 94% in the last three weeks. The altcoin could see a big bull run if it reclaims the $0.58 resistance level. Chiliz is now worth $0.56, down 36.23 percent from its all-time high of $0.88. At the time of writing the token is trading up with 5 percent gains in the last 24 hours.
Chiliz Price is currently undergoing a retest, and if the price can stay above the pattern neckline, it will have a greater chance of reclaiming the $0.58 barrier. Furthermore, the MACD indicator indicates that this coin is going above the neutral zone, indicating bullish momentum.
Chiliz Ecosystem is Blooming
The debut of live in-game NFTs and a quickly growing ecosystem enhanced CHZ’s pricing and demonstrated the project’s solid fundamentals.
The advent of new exchange listings, as well as its freshly launched fan tokens for teams, have all contributed to CHZ’s growing popularity.
Another new trend that may be boosting CHZ’s fundamentals is ecosystem expansion. The platform recently announced a relationship with Kraft Sports and Entertainment, which will see the New England Patriots of the National Football League (NFL) and the New England Revolution of Major League Soccer (MLS) join the Chiliz and Socios ecosystem.
Chiliz announced a collaboration with the Italian Football Federation (FIGC) to establish a blockchain fan token and incentives program for the national team on Socios.com. The current UEFA Euro 2020 champion is the Italian side.