Time to Buy Chiliz (CHZ)? Analyst Sets Sights on $0.43

By PR1ME at Wed, 10 Jul 2024 15:00:03 +0800 | Cryptocurrency Market News |

Time to Buy Chiliz (CHZ)? Analyst Sets Sights on $0.43

With a strong mix of optimistic technical signs and a recent breakout from a downtrend, Chiliz (CHZ), the digital money driving the sports fan engagement website Socios.com, is creating buzz in the crypto market.

CHZ Primed For Growth

Reflecting a rising confidence among investors, CHZ has been on a consistent increase throughout the medium to long term. The way the token treats a significant resistance level of $0.16 accentuates this good attitude even more. A successful breach of this barrier could set off a buying frenzy that drives CHZ to far higher price points.

Fueling the flames, trading pattern trends show a positive tilt. More trading volume amid price rises points to strong underlying demand for CHZ. This demand, together with the technical breakthrough, gives one hope that CHZ will see a large price increase.

Renowned bitcoin specialist Alex Clay supports this perspective by pointing out a positive flag pattern on CHZ’s monthly chart. Often considered as a hint of major price fluctuations, this technical setup exactly corresponds with the recent breakthrough from the downtrend channel.

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