A naukri.com initiative
TronWeekly
3w
322
Image Credit: TronWeekly
Chiliz (CHZ) Faces Uphill Battle as Resistance Holds Firm at $0.0380
- Chiliz (CHZ) is trading below key moving averages, indicating bearish momentum.
- Support levels at $0.0346 - $0.0348 are crucial; failure may lead to $0.0330.
- Resistance at $0.0380 - $0.0409 is preventing upward moves.
- Price action shows weakness without a breakout above $0.0409 with strong volume.
- CHZ is currently priced at $0.0355, up 0.49% in 24 hours but in a bearish trend.
- CHZ struggles to surpass resistance near $0.0380.
- Technical analysis indicates CHZ trades below key moving averages, with resistance at various levels.
- Support at $0.0346 - $0.0348 has held through tests, potential targets lower if breached.
- Resistance ranges from $0.0378 - $0.0409, crucial for any recovery attempts.
- CHZ outlook suggests bearish trend until key resistance levels are surpassed.
- Price needs to break above $0.0409 to show a reversal in momentum.
- Bulls continue to struggle to drive price higher, with potential for more weakness.
- A solid breakout with volume support is needed for price strength.
- Resistance remains firm at $0.0380, limiting short-term upside potential.
- The broader trend for CHZ has been bearish since mid-May's peak near $0.050.
Read Full Article
19 Likes
For uninterrupted reading, download the app