Chiliz

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<p>Chiliz (CHZ) has seen a sharp rise in value lately, increasing by nearly 20%. Several factors contribute to this upward trend, including a notable technical analysis and a new airdrop announcement.&nbsp;</p>
<p>Per data from CoinGecko at press time, <a href="https://www.coingecko.com/en/coins/chiliz" target="_blank" rel="noopener noreferrer nofollow">CHZ trades at $0.07208</a>. The token has risen by 2.33% over the day and a more substantial increase of 21.07% over the week.</p>
<p>Analyst Alex Clay shared his insight on Chiliz’s (CHZ) chart, suggesting a bullish outlook. According to Clay’s tweet, $CHZ has completed a 95.5% correction, a common occurrence for altcoins in a bear market.&nbsp;</p>
<p>His analysis centers on a descending accumulation pattern, a technical formation indicating that the coin may have bottomed out after an extended decline.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CHZ?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CHZ</a>/USDT<a href="https://twitter.com/search?q=%24CHZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CHZ</a> bounced off the confluence of Key Zone + Bottom of Descending Accumulation<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>Coin looks awesome!<br><br>-95.5% Correction is done (classic for majority of coins in a bear market)<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Bottomed out<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>I am entering at the bottom<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;">mid-term target – 0.1880$<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;">long-term… <a href="https://t.co/CuW8230J7b" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/CuW8230J7b</a></p>— Alex Clay (@cryptclay) <a href="https://twitter.com/cryptclay/status/1844009492452725109?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 9, 2024</a>
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<h2 class="wp-block-heading" id="strong-chiliz-price-analysis-strong"><strong>Chiliz Price Analysis</strong></h2>
<p>The chart by Alex Clay shows that CHZ bounced from a confluence zone, where the lower boundary of the accumulation channel and a key support level around $0.0590 intersected. This bounce suggests renewed buyer interest, setting the stage for a <a href="https://coingape.com/chiliz-chz-price-shoots-13-after-binance-airdrop-support/" target="_blank" rel="noopener noreferrer nofollow">potential upward breakout</a>.&nbsp;</p>
<p>Clay set three price targets for CHZ: a mid-term target of $0.1880, a long-term target of $0.3890, and an optimistic target of $0.6040. Moreover, Clay’s analysis also highlights the role of Fibonacci retracement levels in predicting future resistance zones for $CHZ.&nbsp;</p>
<p>Notably, the 50% and 61.8% Fibonacci levels align with his long-term and moonbag price targets. This technical indicator reinforces confidence in his projections. The chart also shows that Clay entered a position near the bottom, indicating his belief that $CHZ has likely found its floor within the accumulation zone.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-uniswap-uni-price-pumping-2/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is Uniswap (UNI) Price Pumping?</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-pepper-airdrop-and-binance-support-strong"><strong>PEPPER Airdrop and Binance Support</strong></h2>
<p>In addition to the technical setup, Chiliz has seen interest due to the announcement of an airdrop for PEPPER, a new token supported by Binance. The official <a href="https://x.com/Chiliz/status/1841506537979973664" target="_blank" rel="noopener noreferrer nofollow">Chiliz X account confirmed</a> that the airdrop is scheduled for October 10th.&nbsp;</p>
<p>This news, also shared by @AltCryptoGems, has further fueled $CHZ’s recent price movement, as investors anticipate the airdrop and potential future developments.</p>
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   <p lang="en" dir="ltr">ON THE RISE?!<br> <a href="https://twitter.com/Chiliz?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Chiliz</a> has risen by almost 20% and it’s due to a few big factors. New airdrop announcements of <a href="https://twitter.com/search?q=%24PEPPER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PEPPER</a>! This <a href="https://twitter.com/search?q=%24PEPPER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PEPPER</a> coin is being supported by <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@binance</a> which has given massive investor interest. What’s next for <a href="https://twitter.com/search?q=%24CHZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CHZ</a>?<br><br>Source: <a href="https://twitter.com/CoinMarketCap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CoinMarketCap</a> <a href="https://t.co/PFTo2ayPB7" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/PFTo2ayPB7</a></p>— Sjuul | AltCryptoGems (@AltCryptoGems) <a href="https://twitter.com/AltCryptoGems/status/1844331793895522463?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 10, 2024</a>
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<p>The combination of a strong technical outlook and a high-profile airdrop has led to increased buying activity for $CHZ.&nbsp; Watching whether the price can break out of its accumulation phase and achieve the mid- and long-term targets outlined by analysts like Alex Clay will be worth a look.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-chiliz-chz-price-up/" rel="noopener noreferrer nofollow">Why Is Chiliz (CHZ) Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Chiliz (CHZ) Price Up?

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