CHZ could hit a new high after hitting a daily low of $0.139, breaking above $0.155 and is currently trading at $0.148 with a bullish move towards the upper limit of the channel. Meanwhile, sellers may try to reenter the market, but bulls may collect more funds on the dip.
CHZ price can only sustain the uptrend if the newly touched support level of $0.139 is maintained at all costs. Currently, the 9-day moving average may need to remain above the 21-day moving average to send more bullish signals as this may encourage more buyers to enter the market.
Nonetheless, if the 9-day moving average red line remains above the 21-day moving average green line, the coin may continue to perform well and the price of CHZ may reach the resistance levels of $0.19 to $0.21, respectively. Moreover, if the market price decides to quickly fall back below the 9-day and 21-day moving averages, a quick bearish decline may occur with the support levels of $0.11 and $0.09 being watched below.
Personal advice is for reference only
