Chiliz

Cryptocurrency

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/insightful-analysis-of-chiliz-chz-amidst-cryptocurrency-market-volatility" rel="noopener noreferrer nofollow">Insightful Analysis of Chiliz (CHZ) Amidst Cryptocurrency Market Volatility</a><br></p>
<p style="text-align: justify">Following the US interest rate decision on January 31, the cryptocurrency market, including <a href="https://en.bitcoinhaber.net/bitcoin-breaks-through-43000-barrier-amidst-etf-anticipation" rel="noopener noreferrer nofollow">Bitcoin</a> and various altcoins, experienced substantial losses. Chiliz (CHZ), a prominent altcoin, has been the focus of investors and analysts alike, raising questions about its future trajectory as per the technical charts.</p>
<h2 id="chiliz-chart-analysis">Chiliz Chart Analysis</h2>
<p style="text-align: justify">Chiliz’s daily chart shows a persistent descending trend line that has yet to be broken, despite recent momentum. The asset’s failure to surpass this resistance has resulted in short-term selling pressure. With the last bar closing below the EMA 21 level, the market is watching to see how CHZ will proceed.</p>
<p style="text-align: justify">Key support levels for CHZ are identified at $0.09744, $0.09071, and $0.08514. Closing below $0.09744, which has been pivotal in recent formations, could intensify selling pressure on CHZ’s price.</p>
<p style="text-align: justify">Conversely, resistance levels to watch are set at $0.1026, $0.1130, and $0.1241. A close above $0.1130, coinciding with the descending trend line, may catalyze CHZ’s upward momentum.</p>
<h2 id="chz-btc-chart-analysis">CHZ/BTC Chart Analysis</h2>
<p style="text-align: justify">The CHZ/BTC daily chart shows a wedge formation that has been in play since October 2023. The pattern was disrupted by Bitcoin’s strength, which initially broke the support line, followed by a break in resistance due to CHZ’s momentum. These movements have led to significant losses for investors.</p>
<p style="text-align: justify">Important support levels on the CHZ/BTC chart are 0.00000233, 0.00000226, and 0.00000220. A close below 0.00000233, intersecting with the EMA 7, could devalue CHZ against Bitcoin. On the flip side, resistance levels of 0.00000244, 0.00000258, and 0.00000272 are crucial, with a close above 0.00000244 potentially signaling a strengthening of Chiliz’s position against Bitcoin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/insightful-analysis-of-chiliz-chz-amidst-cryptocurrency-market-volatility" rel="noopener noreferrer nofollow">Insightful Analysis of Chiliz (CHZ) Amidst Cryptocurrency Market Volatility</a></h5>

Insightful Analysis of Chiliz (CHZ) Amidst Cryptocurrency Market Volatility

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