Chiliz Price Prediction for Today, October 12 – CHZ Technical Analysis

On Oct 12, 2024

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The Chiliz price prediction shows that CHZ could set a bullish run if the market stays above the channel’s upper boundary and touches the resistance level of $0.080.

Chiliz Prediction Statistics Data:

Chiliz price now – $0.072
Chiliz market cap – $652.5 million
Chiliz circulating supply – 9.12 billion
Chiliz total supply – 9.12 billion
Chiliz Coinmarketcap ranking – #104

It’s often recommended to get involved in crypto projects as early as possible, and the Chiliz (CHZ) we’re looking at has had quite a journey. Since its all-time low of $0.004001 on September 27, 2019, this token has surged by an impressive 1690.69%. Though it’s currently far from its all-time high of $0.8915, reached on March 13, 2021, it remains a project with growth potential. In the past 24 hours, its price has fluctuated between a low of $0.06824 and a high of $0.07189. While still down by 91.96% from its peak, the token’s historical performance shows that early entry can lead to significant returns.

CHZ/USD Market

Key Levels:

Resistance levels: $0.090, $0.095, $0.100

Support levels: $0.050, $0.045, $0.040

CHZUSD – Daily Chart

CHZ/USD has recently experienced heightened volatility following its listing on Upbit in late September. This comes amid a relatively bullish market, with a significant price spike occurring earlier today. The spike is tied to positive news from Binance, which has captured the attention of many traders. Considering both technical and fundamental factors, this analysis explores whether CHZ can sustain this momentum and potentially break through key resistance levels.

Chiliz Price Prediction: CHZ Price Could Head Toward the Upside

From a technical perspective, CHZ is currently consolidating within a specific price range, with the most important resistance level sitting at $0.072. This level has proven to be a significant psychological and technical barrier in the past, particularly on September 27th when CHZ first approached it. The resistance at this level is reinforced by strong trading volume, making it a critical price point to watch. Should CHZ break through this resistance, the token could see further upward momentum.

Nevertheless, if the market price breaks toward the lower boundary of the channel, the Chiliz price may slide back to $0.060 support. Once this comes to focus, a bearish extension could roll the coin back to the long-term support levels at $0.077, $0.072, and $0.067. Moreover, should the price begin to respect the upward movement, traders can then expect a bullish continuation above the upper boundary of the channel. Therefore, as the 9-day MA remains above the 21-day MA, the next resistance levels could be located at $0.090, $0.095, and $0.100 respectively.

CHZ/BTC Begins the Upward Movement

Against Bitcoin, buyers are currently dominating the market while the Chiliz price continues to show some promising signs that could make higher highs above the upper boundary of the channel. From the upside, the nearest resistance level lies at 130 SAT, and the higher resistance lies at 140 SAT and above.

Chiliz Price Prediction for Today, October 12 – CHZ Technical Analysis — CHZBTC – Daily Chart

Meanwhile, from the downside, the nearest support level could be located at 100 SAT, and if the price drops further to create a new low, lower support could be located at 080 SAT and below. The 9-day moving average stays above the 21-day moving average, which shows that the bulls are still in focus.

However, @cryptclay, in a recent analysis shared with his 20k+ followers on X (formerly Twitter), highlighted that $CHZ has bounced off a key confluence zone and the bottom of a descending accumulation pattern. He noted that the coin looks promising, with a -95.5% correction now completed, which is typical for most coins during a bear market.

#CHZ/USDT$CHZ bounced off the confluence of Key Zone + Bottom of Descending Accumulation👀
Coin looks awesome!
-95.5% Correction is done (classic for majority of coins in a bear market)✅
Bottomed out✅
I am entering at the bottom🚀
🎯mid-term target – 0.1880$
🎯long-term… pic.twitter.com/CuW8230J7b
— Alex Clay (@cryptclay) October 9, 2024

Chiliz Alternatives

While the Binance partnership is a promising development for Chiliz, the technical outlook is still uncertain. The market needs to see a clear breakout above the $0.078 resistance level for a stronger bullish trend to emerge. Until then, consolidation is expected, and traders should remain vigilant for any further news or technical signals that could impact CHZ’s price trajectory in the coming weeks. Meanwhile, Pepe Unchain is a project that has generated significant interest in the meme coin space. The token is currently achieving over $19 million in its presale, offering investors a promising opportunity for growth compared to CHZ’s more established position. Investing in $PEPU could provide greater potential returns due to its early-stage growth phase.

HOW TO PROFIT FROM PEPU

By investing in $PEPU now, you can capitalize on its promising momentum and maximize potential returns as the project continues to develop. Don’t miss out on this exciting chance to get in early and watch your investment grow.

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