Price Analysis

Alogrand(ALGO) & Chiliz(CHZ) Price Spiked High As XRP Price Rallied This Week!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Sep 23, 2022

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Article Highlights
  • XRP price manifested an eye-catching rally, while Algorand (ALGO) & Chiliz (CHZ) price also followed the suit

  • While the crypto space is slowly slipping into a bearish trap, these altcoins are expected to maintain a firm upswing to close the weekly trade on a bullish note

XRP price underwent a massive upswing of more than 40% in the past couple of days surging above $0.55. While a couple of popular altcoins also managed to record double-digit gains and continue to forecast a significant upswing. 

Algorand (ALGO) Price Analysis

algorand recently registered a significant spike in the user base & the Total Value Locked (TVL) which was followed by the platform launching official FIFA World Cup-based NFTs. New addresses making their first ever ALGO transaction have climbed from 5000 to 20,000 per day within the past 3 months. While the price is facing slight unrest at $0.4, due to bearish interference, the bulls may soon jump in action. 

The ALGO price amid the recent price action squashed the bearish descending triangle and surged high. While the possibility of a correction flash but the asset may sustain firmly at $0.36 and regain the levels above $0.4 before the day’s close. However, attaining $0.42 may be the prime target of the asset that may clear the path towards $0.55, clearing the barrier at $0.5. 

Chiliz (CHZ) Price Analysis

Chiliz price is now on a significant rise as the whales intensify their holding in the recent past. As per the data from Intotheblock, 8 whales collectively hold 67.18% of all the CHZ tokens which is approximately 5.97 billion tokens. While 49.7% of them are relatively passive and only 17.48% are extremely active. On the other hand, investors hold 15.73% of CHZ or 1.4 billion CHZ while the retail sector owned 17.08% or 1.52 billion CHZ. 

Chiliz is among the tokens which have successfully regained their positions, it was trading prior to the market collapse in May 2022. Moreover, the asset is flashing huge bullish signals, that may uplift the price by more than 22% to reach the important resistance at $0.32. The price has surged high accomplishing the cup & handle pattern and after validation of an upswing, the asset may climb above $0.3 very soon.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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