Chiliz [CHZ] The price of Bitcoin has risen by 31,2% since January. The rally was not a New Year phenomenon as it is for many altcoins. The rally can be traced to a 25% gain in one day on the Friday, 19th of December.
CHZ bulls never looked back after this move. At the time of writing, another, much longer-term supply zone had been flipped to support – A sign that Chiliz buyers were only getting warmed up.
Chill out above $0.05 per month resistance
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Chiliz Bulls made significant progress over the past few weeks. CHZ has not been able to break through the resistance level of $0.05 since 2025. finally in bullish control At press time
Gains were accompanied by strong demand and a surge in buying power. D3 CMF rose to a positive 0.17 to reflect the heavy inflows of capital. OBV has also exceeded its February 2025 highs.
This may be an indication of serious intent From the bulls. Further gains could be expected. In the North, next price targets are $0.067 or $0.1.
Does CHZ have a compelling bearish case?
No. Technically, it appears that the Chiliz token has strong bullish credentials. Volumes at the time were very high. Key long-term barriers were also broken. Open Interest In the last three weeks, this number has almost tripled.
The bearish Bitcoin [BTC] Price movement could impact the market sentiment and stop the Chiliz bulls progress.
Traders’ call to action – Buy the breakout
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Breaking through $0.05 may be a good opportunity for a buy. Short-term, however, patience may be required. A bearish divergence in the MFI/price relationship was visible on the chart for the 4 hour period. The price could experience a temporary pullback.
Bullish reactions are likely to occur if the area between $0.0460 and $0.0495 is pulled back. On the H4 timeframe, this area showed an imbalance. It also shows a convergence with the moving average of 50 periods.
Investors and swing traders should consider going long, with stop losses around $0.0410 to $0.0428. It is still possible that the price will move to $0.10.
Last Thoughts
- Chiliz’s break-out past $0.05 marks a bullish trend that will likely bring in more buyers to the market.
- Despite the bearish divergence of the 4-hour chart, the $0.10 level could be an achievable price target in the coming week.
Disclaimer: Information presented is the opinion and not financial, investment, trading or any other type of advice.
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Source: ambcrypto.com
