CHZ looks bullish short term, 50%+ Growth Potential!
The Chiliz token, abbreviated CHZ, is a digital currency used on sports and entertainment platforms. It is a utility token that originated on the Ethereum blockchain and has since become the official cryptocurrency of the Socios.com platform.
The primary characteristics of CHZ
1)CHZ is required to participate in Fan Token Offerings and Locker Rooms (the initial sale of Fan Tokens).
2)Fan Tokens' goal is to be fan-centric, allowing viewers to become active contributors to their favourite sports teams.
Price analysis:
From the $0.16 bottom support, the Chiliz (CHZ) recovery rally has gained 45 percent. During the rally, the bulls broke through two significant resistance levels of $0.198 and $0.24.
Bullish Scenario: CHZ is trading above the $0.21 support level. If it remains above this zone and the $0.27 resistance level is broken, we could see a move towards $0.31, $0.36 and $$0.42.
Bearish Scenario: Since a few weeks, CHZ has been in a downtrend channel on a higher time like daily, weekly, monthly so we are not out of the bearish territory completely and failure to hold the support at $0.21 could lead to a drop to $0.15, $0.08, and lower.
The primary characteristics of CHZ
1)CHZ is required to participate in Fan Token Offerings and Locker Rooms (the initial sale of Fan Tokens).
2)Fan Tokens' goal is to be fan-centric, allowing viewers to become active contributors to their favourite sports teams.
Price analysis:
From the $0.16 bottom support, the Chiliz (CHZ) recovery rally has gained 45 percent. During the rally, the bulls broke through two significant resistance levels of $0.198 and $0.24.
Bullish Scenario: CHZ is trading above the $0.21 support level. If it remains above this zone and the $0.27 resistance level is broken, we could see a move towards $0.31, $0.36 and $$0.42.
Bearish Scenario: Since a few weeks, CHZ has been in a downtrend channel on a higher time like daily, weekly, monthly so we are not out of the bearish territory completely and failure to hold the support at $0.21 could lead to a drop to $0.15, $0.08, and lower.