CHZ Technical Analysis: Back At $0.25, Chiliz Stand At Crossroads

The CHZ technical analysis shows a Bullish breakout of a triangle pattern leading to a jump to the $0.25 supply zone. Will buyers exceed the zone this time? The CHZ price action bullish breakout rally of a descending triangle pattern resulted in a price jump to the overhead resistance at $0.25. Furthermore, the increase in intraday trading volume supports the bullish rally. Thus, increasing the likelihood of an uptrend continuation, creating a new high above $0.25. So should you wait for a price action confirmation or take an early entry to avoid missing out on the upcoming rally? Key points: The Chiliz prices tease the $0.25 breakout. The fallout rally may shortly reach the $0.30 mark. The intraday trading volume in Chiliz is $837 Million. Source-Tradingview CHZ Technical Analysis The CHZ price displays a double bottom reversal in the technical chart resulting in a triangle breakout mentioned in our previous analysis. The bullish breakout unleashes the trapped momentum resulting in a remarkable recovery of 30% within a week with a boom in the trading volume. Additionally, the bearish influence over the crucial daily EMAs nullifies as the uptrend restarts. And it teases a potential crossover between the 100 and 200-day EMA. Currently, the price action shows a power struggle at the $0.25 supply zone for the upcoming trend control. The bearish influence over the daily candle results in a 2% price drop and projects a possibility ...