Chiliz Price Prediction: Is CHZ Ready For A Breakout To $0.18?

• Chiliz Chain 2.0 CEO is eager to get more and developers to build on the chain
• Technical indicators of CHZ are favoring a weak upside trend in price. It has seen a jump of 0.64% in the intraday session

Chiliz was created in 2018 with an aim to serve as a platform for fan engagement and monetization in sports and entertainment. The Chiliz blockchain aims to create a bridge between the world of cryptocurrencies and the world of mainstream sports and entertainment. Chiliz allows sports and entertainment organizations to create their own branded tokens, also called as fan tokens, which can be traded on the Chiliz blockchain.

Various users can purchase fan tokens using CHZ and then use them to participate in activities like voting , games and other things. It allows fans to have more active roll in the organizations. They have already partnered with some of the biggest names in sports and entertainment. Chiliz Chain 2.0 CEO is eager to onboard more developers to build on their chain. Various analysts are expecting a strong growth in CHZ in future.

Chiliz has a market cap of $823 Million and is ranked 60th in the cryptoverse.Volume of the asset price has seen a pump of 2% in the intraday session. Volume to market cap ratio of CHZ suggests a consolidated trend in price.

Bullish Trend Is Showing In CHZ Price

Source: TradingView

The weekly technical chart of the CHZ hints towards a consolidated trend in price. On the daily chart it is trading near the value of $0.12 with a slight gain in the intraday session. It has formed an upside trend line which can push the asset price to a new high. Resistance of CHZ can be seen near $0.18.Meanwhile the support of the asset price can be seen near $0.1It is currently trading below the 50 and 100 Daily Moving Average. It can see a golden crossover in price in the near future.

RSI of the asset price is near 57 suggesting its presence in the neutral zone.There is a weak upside line formed suggesting a bullish momentum

Conclusion

Chiliz is currently observing a consolidated upside trend in price. Various analysts are expecting a strong upside trend in price.

Technical Levels

Major Support: $0.1

Major Resistance: $0.2

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Source