Key takeaways
- CHZ is up 7% in the last 24 hours and is now trading above $0.053.
- The cryptocurrency could rally towards the $0.060 level if the bullish trend continues.
CHZ hits $0.054 as bulls take control
CHZ, the native coin of the Chiliz blockchain, is up 7% in the last 24 hours, making it one of the best performers among the top 100 cryptocurrencies by market cap.&
The positive performance comes as Chiliz continues to expand its Fan Token lineup ahead of the 2026 FIFA World Cup.
Chiliz announced via X on Tuesday that Socios has signed a new national football team to launch a Fan Token, following launches for Argentina, Portugal, and Italy, marking the fourth national team.&
This latest development has boosted the demand for CHZ, pushing its market cap above $550 million.&
However, despite the current outlook, CryptoQuant’s summary data supports a bearish forecast for CHZ. The data shows that both spot and futures markets are displaying signs of retail activity and overheating, suggesting a potential correction ahead.
CHZ bulls eye $0.06 amid strong technicals
The CHZ/USD 4-hour chart is bullish but inefficient thanks to its rally in the last 24 hours. At press time, CHZ is trading at $0.0533 after successfully closing above the daily resistance of $0.039 earlier this year.&
CHZ has encountered a slight rejection around the $0.054 level but could overcome it in the near term. If CHZ continues its upward trend, it could extend the rally toward the $0.060 psychological level, with a\ weekly resistance at $0.063, an interesting area for the bulls.&
The Relative Strength Index (RSI) on the 4-hour chart reads 66 and is heading into the overbought region. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, further supporting the bullish view.
However, if CHZ faces a pullback, it could dip towards the daily resistance-turned support level at $0.039.
The post Chiliz price forecast: CHZ extends rally as bulls eye the $0.06 level appeared first on CoinJournal.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments