$CHZ Chiliz (CHZ) at the price of $0.0866 presents a critical point in its price action. Currently, it is hovering around a strong support zone, which could offer potential for short-term gains, provided the market sentiment remains favorable.
Key Levels:
- **Support:** Around $0.0840 - $0.0850, a crucial level where CHZ could bounce if the market maintains bullish momentum.
- **Resistance:** A strong resistance sits around $0.0900 - $0.0920, making this range crucial for any potential breakout.
- **Target for Profit:** If CHZ can break above $0.0920, it could target the $0.10 level. A move above that would confirm an uptrend continuation.
Profit Potential:
- **Short-Term Trade:** If you're looking for a short-term profit, an entry around $0.0866 with a target of $0.0920 offers a reasonable risk-to-reward ratio.
- **Stop-Loss:** Consider placing a stop-loss just below $0.0840 to manage downside risk effectively.
In summary, if CHZ holds the $0.0850 level and manages to break resistance at $0.0920, it could present an attractive opportunity for a profitable short-term trade.$CHZ