Chiliz (CHZ) price recently formed an ascending channel on the four-hour time frame. This technical structure shows that the price constantly fluctuates between highs and lows within a certain range. Despite Bitcoin's corrective move, Chiliz is currently experiencing an uptrend, indicating that altcoins may have their own price dynamics independent of Bitcoin's movements.

Technical Analysis and Key Levels

Support and Resistance Zones:

The price started declining after reaching the top of the channel and the resistance zone between $0.163-$0.168. At these levels, buyers taking profits and sellers stepping in may have caused the price to retreat from this region. However, the price is expected to continue moving in the ascending channel.

Short Term Trend: Strong Up

Chiliz shows a strong upward trend in the short term. This means investors can look for short-term buying opportunities. Short-term moving averages and other momentum indicators can indicate increased buying interest where the price is near support levels.

Medium Term Trend: Up

The medium-term trend is also upward. This indicates that the price is in an upward trend over a wider time frame and investors should plan their medium-term strategies accordingly. In the medium term, the price can be expected to remain within the ascending channel, making higher highs and higher lows.

Long Term Trend: Up

The long-term trend is also up, indicating that Chiliz's overall market momentum is positive and long-term investors can continue buying in this asset. Long-term investors can focus on the fundamental and technical factors that support the market's overall uptrend.

Future Expectations and Investment Strategies

Price Movements and Channel Dynamics:

Moving the price within the ascending channel requires careful monitoring of support and resistance levels. The resistance zone between $0.163-$0.168 could pose a significant hurdle. A break above this level could see the price reach new highs. Otherwise, the price may be likely to pull back towards the lower boundary of the channel.

Strategies for Investors:

- Short-Term Investors: By focusing on the price movements within the channel, they can buy at support levels and take profits at resistance levels.

- Medium-Term Investors: By paying attention to the general trends of the channel, they may consider buying on pullbacks and focusing on longer-term targets.

- Long-Term Investors: By relying on general market trends, they can maintain their long-term positions and develop strategies based on fundamental analysis.

In conclusion

Chiliz (CHZ) shows a remarkable performance with its rising channel structure. The fact that short, medium and long-term trends are all upward shows that this crypto asset will continue to attract attention in the future. It is important for investors to manage their risks and make strategic decisions by carefully monitoring support and resistance levels.

$CHZ #CHZ #chz #chzusdt #EarnFreeCrypto2024 #BinanceHerYerde