Chiliz [CHZ] The bullish trend continued for the second consecutive day. CHZ’s latest gains indicate that there is still room to go up, but the price history at this point suggests it may be a turning point.
CHZ, at the time of press, was trading for $0.04275. This represents a 17.11% increase over the last 24 hours. In the same time period, traders and investors were active, as shown by an increase of more than 360% in trading volume, which reached $177.20 Million.
This increase in CHZ price may be notable but it does not occur in isolation. The broader cryptocurrency market also showed signs of improvement, increasing by more than 1.25% in the same time period.
CHZ eyes 30% Gain
The daily chart is a good way to see the performance of your stock. CHZ‘s 17.11% increase appears to have brought the asset near a breakout of a bullish pricing pattern. Chart shows the asset has formed textbook inverted heads and shoulders, while the price nears a breakout over the neckline of $0.0445.
The $0.0445 price level is a good example of a price reverse since February 20, 2026. It has been reversed more than 4 times.
If CHZ maintains the upward trend and breaks through the neckline at $0.0445, the price could surge by 30%, possibly reaching $0.05786. If the price does not break through this level, it is possible that the market will reverse.
As of when this article was written, despite the significant jump in CHZ’s price, ADX, an indicator of directional strength that measures trend strength, stood at 16,45, well below the critical threshold of 25, which indicates weak trend strength for the asset.
Notably, crypto analyst noted that CHZ has broken out of a five‑year descending trendline resistance, with the current structure confirming the breakout. Analysts predict that this could trigger a 10-fold increase in price, pushing it back up to $0.40.
CHZ bullish traders and investors’ sentiment
Download data from the derivatives Tool CoinGlass The same trend is evident amongst both the long-term as well as short-term market players.
CHZ’s Inflow/Outflow Spot metrics show that long-term holders continue to withdraw tokens on exchanges. Exchanges also recorded an outflow worth $175K in tokens over the past 48-hours.
The Exchange Liquidation Map reveals that traders who are betting intraday heavily on lower and upper prices of $0.0408, respectively.
At this level, traders have created approximately $1.14M worth of leveraged long positions and $525K in short leveraged positions. This indicates that they are expecting further price gains.
Final summary
- CHZ is now nearing the neckline in a bearish pattern. A breakout would bring an extra 30% of gain.
- CoinGlass shows both traders and investors are positive about CHZ.
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Source: ambcrypto.com
