CHZ Technical Analysis Report | 8th-SEPT-2022

Chiliz (CHZ) returns over the last 90 days exceeds 80%, the highest among max-cap crypto assets. Additionally, CHZ is down 26% year-to-date compared to BTC and ETH, which are down by 57% and 60%, respectively. Originally, the CHZ price rally started amid a rally seen across the market. But that uptick gained momentum through a series of upsides, including a partnership with crypto exchange Huobi Global and a nearly 25 per cent acquisition of FC Barcelona’s Barca Studios as well as the back-to-back network updates as it attempts to get off from ETH network and launch its own chain CHZ 2.0. The asset is up by 3% in price while the volume is down by around 40%.

At the time of writing, CHZ was trading at $0.1942.

Chiliz Chart | 8th Sept 2022
Chiliz (CHZ) Chart

CHZ after making the low of $0.081 started consolidating in a range from $0.09 to $0.12.

The asset finally gave a breakout above the range and surged almost by 122% up to $ 0.265

within a month. On a daily time frame, CHZ has made a ‘Tweezer Top’ candle pattern just below the key level of $0.2779 (78.6% Fibonacci Retracement Level) and witnessed a profit booking and dropped to $0.1821. CHZ has a very strong support zone from $0.175 to $0.165 (200 Day Moving Average & Horizontal Trendline). If it holds and sustains the support then we can expect the bulls to resume the up-move.

Support 2Support 1AssetResistance 1Resistance 2

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