CHZ Price Analysis: Chiliz Crypto bears douse the fire of the bullish flame

•CHZUSD is currently priced at $0.19 and has decreased by 24.35% over the past day

•The trading volumes have increased by 26.93% over the past day

•Tye technical indicators suggest a hawkish outlook for the near term

Short Term View: Chiliz Crypto bulls unable to recover from the setback

Source: CHZ/USD by TradingView

The Chiliz Crypto price today is $0.191630 USD with a 24-hour trading volume of $1,473,235,324 USD. Chiliz crypto is down 24.35% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market Cap Ratio stands at 1.28 for the altcoin.

Chiliz Crypto had been in a consolidated uptrend for the past few weeks but the seal of approval has been broken with the return of bears in the market. This has led to intensified selling activity taking place in the market, resulting in the Chiliz Crypto Price to transact below the 20,50 SMA on the four hour chart. The hawkish sentiment could further catch fire if the bears are able to successfully breach the $0.15 support level. On the flip side, the resistance for the altcoin is placed at $0.25 in the event of a trend reversal.

Long Term View for Chiliz Crypto Price

Source: CHZ/USD by TradingView

Chiliz Crypto Price is in a bind as the RSI has shown weakening strength to slump below the 14-day average line, and is currently transacting at 41.39. Moreover, a bearish crossover has been observed on the daily chart today which has turned the histograms red as a result. Furthermore, the MACD and signal lines are also spiraling downwards which suits the bearish trend just as well.

Conclusion

The Chiliz Crypto bears have firmed uptrend gear resolve I’m the market and the asset has suffered as a result. The huge influx of the sellers in the market suggest that the bearish momentum is unlikely to slow down any time soon.

Support: $0.15

Resistance: $0.25

Disclaimer

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

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