The FIFA World Cup is fast approaching and it’s time to focus on the Chillz token which is heavily involved in the upcoming international event and itself is a blockchain-based sports provider. Based on on-chain data available, CHZ’s 30-day Market Value to Realized Value Ratio (MVRV) was 12.81%. This Ratio was negative until 30th October and started rising since then, and if this rate continues, investors will soon recoup all their investments in CHZ. CHZ network growth had increased to 287. Likewise, the volume was impeccable with a 24 hours rise of around 30.7%.
At the time of writing, CHZ was trading at $0.246
CHZ after making the recent high of $0.2828 on 23rd September made a ‘Spinning Top’ candle at the resistance of $0.2779 (78.6% Fibonacci Retracement Level) and witnessed a sharp correction. The prices fell almost by 43% and dropped to $0.1600. Post this move, the asset took multiple supports at the Horizontal Trendline of $0.1650 and rallied up to $0.25. The asset has strong resistance at $0.25. Once it breaks and closes above this, it can further rally up to $0.28 levels whereas $0.195 and $0.16 will act as strong support.
|Support 2||Support 1||Asset||Resistance 1||Resistance 2|
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