<em><strong>The CHZ price action shows a bullish reversal reaching the overhead resistance at the $0.165 mark challenging the 200-day SMA. </strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Chiliz (CHZ) price has increased by almost 64% in the last three weeks.</li>
 	<li>The bullish crossover of the 50 and 100-day SMA is teasing a bull run.</li>
 	<li>With a market cap of $962 million, the intraday trading volume of Chiliz has increased by 66% over the last 24 hours to reach $263 million.</li>
</ul>
<h3>Past Performance of CHZ</h3>
The Chiliz (CHZ) prices take a bullish reversal from $0.10 and the 50-day SMA resulting in a price jump to the 200-day SMA at $0.16. The bullish reversal comes after a long-term consolidation with overhead resistance at the $0.129 mark. Moreover, the recent spike in the intraday trading volume supports the bull run accounting for a price jump of 33% in the last two weeks.

<img src="https://s3.tradingview.com/snapshots/2/2ThZm66y.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/2ThZm66y/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>CHZ Technical Analysis</h2>
A 1.77% intraday drop in CHZ price as it hit the $0.165 resistance indicates the <a href="https://www.cryptoknowmics.com/news/finance-minister-of-india-says-crypto-buyers-should-exercise-caution/" target="_blank" rel="noopener">buyers</a> are still struggling to surpass this level. If the selling pressure persists, the altcoin may witness a minor correction before resuming the prevailing recovery. The 200-day SMA slope wavering around the $0.165 resistance puts an additional barrier against the potential bull run. However, a bullish crossover among the 50-and-100-day SMA bolstered the overhead resistance breakout.

The MACD indicator shows the fast and slow lines rising higher in the bullish territory, indicating a sustained buying activity from traders. However, the daily-RSI slope turning sideways at the neckline of the overbought region supports the pullback theory.

In a nutshell, the CHZ technical analysis suggests that traders wait for a price action to breach $0.165 to confirm a breakout trade.
<h2>Upcoming Trend</h2>
The technical chart shows the possible pullback may retest the $0.129 support, which could replenish the bullish momentum for bull trend resumption. In addition, the discount price would allow sidelined buyers to grab CHZ at cheaper rates.

However, if buyers undermine the apparent reversal with a bullish breakout from the $0.165 mark, the resulting rally should surge to $0.18.

Resistance Levels: $0.165 and $0.18

Support Levels: $0.14 and $0.129

CHZ Technical Analysis: Power Struggle At SMA Delays Bull Run

The CHZ technical analysis shows a bullish reversal reaching the overhead resistance at the $0.165 mark challenging the 200-day SMA. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

CHZ Technical Analysis: Power Struggle At SMA Delays Bull Run

Top Picks