- On the daily time scale, a strong bearish candle is formed.
- The pair of CHZ/USDT is trading at the price level of $0.106 with a decrease of -5.35% in the past 24 hours.
On a daily time frame, the CHZ token price is bearish based on price movement. The overall negative trend in the cryptocurrency currency market appears to have influenced the token’s price. After breaking through the demand zone, the token fell sharply, causing investors to lose money.
The trend is being driven by bears
After the formation of a triple top in the supply zone, the token has been in a continuous downtrend, making lower highs and lower lows. As we can see on the daily chart, CHZ is currently trading at $0.106 with a loss of -5.35% in the past few hours erasing previous days gains. It is now trading below its key Moving Averages of 50 and 200. (Red line is 50 EMA and the blue line is 200 EMA). We can see a bearish crossover of the EMA with 50 EMA crossing 200 EMA in a downward direction.
សន្ទស្សន៍កម្លាំងទាក់ទង៖ The asset’s RSI curve is presently trading at 37.60. For the previous few days, there has been some recovery in the price of the token, causing the value of the RSI curve to bounce from the strong oversold zone. The RSI curve had crossed over the 14 SMA. As the value of the RSI curve increases, we may see a small pullback till the 50 EMA.
ទស្សនៈ & ការរំពឹងទុករបស់អ្នកវិភាគ
Bearish crossover on the daily time frame indicates a downtrend, thus investors who want to make new buys should wait for the token to rebound and cross the 50 EMA upward and hold above it. Until the token crosses the 50 EMA, we will witness lower highs and lower lows. Intraday traders have a good opportunity to go short if token goes below $0.995 and can aim for $0.086.
According to our current Chiliz price forecast, the value of Chiliz is expected to fall by -13.74% and reach $ 0.091669 in the next few days. Our technical indicators indicate that the current sentiment is bearish, with the Fear & Greed Index reading 26. (Fear). Chiliz had 13/30 (43%) green days with 15.35% price volatility in the previous 30 days. According to our Chiliz forecast, now is not the time to buy Chiliz.
កំរិតបច្ចេកទេស
ជំនួយសំខាន់: $0.995
ការតស៊ូសំខាន់: $ 0.114
សន្និដ្ឋាន
After breaking through the demand zone and bearish crossover on a daily time frame. Token is in strong downtrend investors should wait for a clear indication before investing and should not try to catch a falling knife.
ការមិនទទួលខុសត្រូវ: ទស្សនៈ និងគំនិតដែលសរសេរដោយអ្នកនិពន្ធ ឬមនុស្សណាម្នាក់ដែលមានឈ្មោះក្នុងអត្ថបទនេះគឺសម្រាប់តែគំនិតព័ត៌មានប៉ុណ្ណោះ ហើយពួកគេមិនបង្កើតហិរញ្ញវត្ថុ ការវិនិយោគ ឬដំបូន្មានផ្សេងទៀតទេ។ ការវិនិយោគលើ ឬជួញដូរទ្រព្យសកម្មគ្រីបតូមកជាមួយហានិភ័យនៃការបាត់បង់ហិរញ្ញវត្ថុ។
Source: https://www.thecoinrepublic.com/2023/01/08/chiliz-price-analysis-chz-token-continues-to-burn-cash-of-investors/