Contrary to Coinphoton’s earlier prediction of a potential drop to $0.05 following a bearish divergence signal on the 4-hour chart, Chiliz (CHZ) – a token within the blockchain ecosystem focused on sports – has continued to maintain a strong upward trend.
In the past 24 hours, CHZ recorded a 2.49% increase, bringing the weekly gain to 27.7%.
Recently, Chiliz also announced its participation in the Crypto MiCA Alliance, an organization supporting the review and conversion of iXBRL for cryptocurrency white papers within the Chiliz ecosystem and fan tokens.
CHZ Price Could Rise to $0.1 and Beyond
According to analysis from trader IncomeSharks on the X platform, CHZ’s OBV indicator has experienced a strong breakout above the $0.05 resistance level – a supply zone that has persisted for nearly a year. The daily chart of CHZ shows clear bullish momentum, with the MFI indicator surpassing 80 and average trading volume continuously improving over the past month.
Source: TradingView The $0.064-$0.072 supply zone, formed since February 2025, is now the next target for buyers. If this zone is broken, CHZ will open up new growth opportunities for swing traders.
Price Correction Risks: Is It Worrisome?
The A/D indicator is signaling a bearish divergence, indicating a potential for a slight correction. However, based on current data, a sharp decline below the $0.035-$0.040 support zone is unlikely.
Source: CoinGlass Investors should also pay attention to short-term volatility. The liquidation map shows the possibility of liquidity hunts around the $0.05 level, as many high-leverage long orders are below the current price of $0.058. The large long leverage also exerts short-term correction pressure.
Why Traders Should Maintain Optimistic Confidence
After breaking through a key resistance level, CHZ’s long-term trend remains positive. Traders should be cautious of short-term fluctuations and not let them affect their long-term strategies.
The daily chart price structure indicates that if CHZ drops below $0.027, the upward trend will be invalidated. However, support zones at $0.035 and $0.040 are expected to limit strong selling pressure.
Mr. Giáo
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