The Chiliz price rebounds breaking the upper resistance to manifest a huge bullish momentum
The weak hands are just letting off the positions, depleting the volume enormously, yet expected to regain the numbers very soon
Will Chiliz Price Rebound?
The Chiliz price caught everyone’s eye with a massive surge in the past week. And with the surge, may speculate the probable ‘low cap season’ of 2021.is experiencing a depleting trend since then. However, the asset is experiencing a drastic depleting trend since then, by losing as much as 50% of the gains.
Despite the plunge, some still think, the Chiliz investment was a profitable one as it offered decent returns. A cryptocurrency researcher, Christian Ott believes that the traders should still hold CHZ even though the asset is declining.
Further, he advised the investors to be prepared for everything as prices go up more than expected and also decline to the bottoms. Hence the traders should not expect to be at the top all the time and hold the asset to be in the game to be successful.
CHZ Price Analysis
Chiliz price attained the highest ever levels since its inception attaining $1 billion market capitalization. However, the upcoming price movement was completely bearish, which might not have been expected by many.
Nevertheless, the rally included some surges too, yet the plunges outperformed them in no time. Fortunately, at the time of writing, the Chiliz price has broken the upper levels of the ascending triangle and manifests a probable uptrend approaching.
At the time of writing, the CHZ price is $0.5377 with a drop of 3.42% recovered from more than 10% since the early trading hours. The RSI levels trended within the range showcasing the strong momentum being kept intact. Currently, they tend to surge, recovering the losses and regaining the lost positions.
- The resistance levels for Chiliz price stand at $0.71
- The support levels stand at $0.4829
- The indicators for CHZ price point towards a buy signal