Chiliz Shows Signs of a Continued Upward Push but This Could Halt at…

Chiliz faced rejection at the $0.1275 mark in December and continued its freefall to reach the local low at $0.097 in late December. Since then, Chiliz has gradually climbed higher. Evidence from the charts showed that some more gains can follow.

The strong recent gains on lower timeframes were evidence of the fact that CHZ remained a popular token among whales. Even though the token’s velocity noted gains recently, the supply held by top exchanges took a dip.

On the daily timeframe, the market structure took a bullish hue after breaking above the $0.116 mark. However, the selling pressure since mid-November has been immense. Therefore it was hard to say the longer timeframe bias has flipped bullish even though the bearish structure was broken.

Chiliz $0.09

-4.94%

Chiliz

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