Chiliz Technical Analysis 📊📈
Chiliz, a cryptocurrency that is at the focus of the sports world, came to the fore as one of the most smaking altcoins of 2021. CHZ had risen to $0.89 as a peak level at the time. Afterwards, CHZ declined with the effect of the bear season and fell to the $0.053 levels. A golden cross formation stood out for CHZ, which crossed the $0.1 level after the recovery.
The Golden Cross formation is seen as a harbinger of the rise in the cryptocurrency world. Accordingly, a form of formation that occurs when a short-term moving average line cuts the long-term moving average line and rises above it. Since this pattern occurred at CHZ during the week, a bullish move may be a matter of time.
At the time of writing, when I look at the CHZ price we know as sports-oriented altcoin in the cryptocurrency world, I see that the price is at the level of 0.15 dollars. I need to state that the CHZ coin has made an impressive increase of approximately 25% in the last week. On the other hand, it should be emphasized that important developments for cryptocurrency are especially sports activities.
Now we have UEFA Euro 2024 ahead of us. I believe that it would be beneficial for investors to consider this, as there may be significant participation in CHZ before this activity. On the other hand, towards the end of the Championship, the CHZ investor should be careful towards the end, as the enthusiasm will go out.
When we look at the technical indicators, we see that the RSI is at the level of 51. It should be noted that this level is a neutral level, that is, it does not give buy or sell advice.
On the other hand, when we look at the MACD indicator, we see that the MACD line for the cryptocurrency CHZ is on the signal line. This situation states that the increase for CHZ will continue. The next process for the cryptocurrency CHZ will be the capture of the $0.165 level. While CHZ has caught this trend, the biggest obstacle in front of it will be Bitcoin's negative move. DYOR Source Cointurk
