Chiliz

Bitcoin ETF

Arthur

<img width="1200" height="551" src="https://coingape.com/wp-content/uploads/2024/01/vpF6Rp7j-e1705432601618.png" class="attachment-full size-full wp-post-image" alt="Chiliz Price Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Chiliz Price Prediction: Amid the launch week of spot Bitcoin ETF, the <a href="https://coingape.com/price/chiliz/">Chiliz coin price</a> witnessed a surge in buying pressure around the $0.7 psychological mark. Within two weeks, a bullish reversal from this support has surged the CHZ price 55.8% surge to currently trade at $0.1. This bullish upswing led to a decisive breakout from the neckline resistance of inverted head and shoulder patterns, indicating a potential for higher growth. 
<h2 id="strong-chiliz-price-prediction-as-massive-short-liquidation-intensify-buying-pressure-strong">Chiliz Price Prediction As Massive Short Liquidation Intensify Buying Pressure</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from an inverted head and shoulder pattern indicates an early sign of trend reversal</li> 
 <li style="font-weight: 400;" aria-level="1">The rising CHZ price may witness renewed supply pressure at $0.0118, followed by $0.013</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the CHZ coin is $312 Million, indicating a 261% gain&nbsp;</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/v/vpF6Rp7j.png" alt="Chiliz Price Prediction " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Chiliz Price Prediction|
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</figure> 
Over the last seven months, the performance of <a href="https://coingape.com/markets/top-cryptocurrency-picks-for-today-january-16-eth-klay-chz/">Chiliz (CHZ)</a> has lagged behind the broader crypto market’s recovery in 2023. While several major cryptocurrencies recouped 50% of their losses from the previous downtrend, CHZ’s price has largely fluctuated within a narrow range. 
<blockquote>
 However, a closer examination of the daily timeframe chart reveals that this sideways movement has evolved into a inverted head and shoulders pattern, typically indicative of a market bottom and a strong foundation for potential recovery.
</blockquote> 
In a significant development, the CHZ price surged by 20% today, marking a decisive breakout above the neckline resistance of this pattern. This rise has been accompanied by a substantial short squeeze, with $944.16 million in liquidations reported by <a rel="nofollow" href="https://www.coinglass.com/currencies/CHZ">Coinglass</a>, a platform providing insights into the derivatives market. 
<figure id="attachment_174595" aria-describedby="caption-attachment-174595" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-174595" src="https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31.png" alt="CHZ Total Liquidations Chart" width="1699" height="496" srcset="https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31.png 1699w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31-300x88.png 300w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31-1224x357.png 1224w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31-768x224.png 768w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31-1536x448.png 1536w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-17_00-40-31-150x44.png 150w" sizes="(max-width: 1699px) 100vw, 1699px">
 <figcaption id="caption-attachment-174595" class="wp-caption-text">
 CHZ Total Liquidations Chart| Coinglass
 </figcaption>
</figure> 
Should CHZ sustain its momentum above the recently breached trendline, the coin could aim for a target of $0.134, representing a 25% increase. 
<h2 id="strong-technical-indicator-strong">Technical Indicator</h2> 
<ul> 
 <li>Exponential Moving Average: The daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> started to lean upward indicate the market sentiment is building a positive outlook for this asset.</li> 
 <li>Average Directional Index: An uptick in the daily ADX slope while wavering at the 17% mark indicates the buyers have sufficient strength to lead a prolonged recovery.</li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/arthur-hayes-expects-hong-kong-to-hinder-bitcoin-etf-adoption-in-west/">Arthur Hayes Expects Hong Kong To Hinder Bitcoin ETF Adoption In West</a></li> 
 <li><a href="https://coingape.com/heres-why-the-bitcoin-btc-bull-trend-will-be-on-halt-until-halving/">Bitcoin (BTC) Bull Trend Will Be On Halt Until Halving, Here’s Why</a></li> 
 <li><a href="https://coingape.com/top-analyst-predicts-bitcoin-to-hit-300k-amid-pre-halving-surge/">Top Analyst Predicts Bitcoin To Hit $300K Amid Pre-Halving Surge</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/chiliz-price-prediction-as-buyers-pursue-0-13-target/">Chiliz Price Prediction As Buyers Break 7 Months Accumulation to Pursue $0.13 Target</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Chiliz Price Prediction As Buyers Break 7 Months Accumulation to Pursue $0.13 Target

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