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A well-known crypto analyst Captain Faibik has gained much attention with his latest post on X stating that Chiliz (CHZ) is gearing up for a big move. As explained by Faibik, the CHZ price is approaching a descending channel on a macro timeframe, which suggests the beginning of an upward movement if a breakout occurs. […]
Chiliz (CHZ) looks bearish as it shaved off as much as 64% in 50 days. This entertainment- and sport-based blockchain platform is built on Socios and allows fans to interact with sporting brands and teams. Here’s a quick glance at how the crypto is performing so far: Chiliz plunges by 0.70% Sellers are seen to dominate the bearish market CHZ has trimmed down as much as 64% in just 50 days With that said, users can fully take advantage of the platform to stake and dish out exclusive information and news tidbits from their favorite sporting teams, plus also freely share their opinions on the latest news. The 2022 FIFA World Cup gave Chiliz a boost as it pumped up the orders. However, Chiliz can’t seem to keep up with the rest of the cryptocurrencies and has been lagging behind or going downward spiral. CHZ Currently Trades At $0.1085 According to CoinMarketCap, CHZ is down by 0.70% or trading at $0.1085 as of this writing. With this scenario, the sellers clearly have the upper hand while the buyers need to hang on and wait for the market to switch to bullish and stabilize in terms of demand before placing any bids. Chiliz is a crypto exchange with the CHZ token explicitly designed for buying fan tokens that give users the ability to decide and govern regarding certain policies, stadium names, team lineups, franchises, and selection of players. In addition, the CHZ token also functions similarly to BEP2 on Binance and ERC20 token on Ethereum. Related Reading: Why USDT Is Plunging While Other Stablecoins Are Not CHZ total market cap at nearly $666 million on the daily chart | Chart: TradingView.com Hitting The Oversold Zone Chiliz was seen wading along the lines of $0.1637 to $0.29 since August. Now, when the lows in this range were breached and then retested as resistance in December, this has shown how sellers have the evident upper hand in the market. RSI for CHZ is seen to have dipped below the neutral range of 50 on November 20. It is currently sitting at 9.2, which means it has reached the oversold zone. Considerably, the CMF also moved down in the same period with sizeable capital flushed out of the market. Chart: CHZ/USDT on TradingView Over the past few days, the Fibonacci extension level, which acted as support, was spotted at 24.3% across the $0.107. Sellers can shoot towards going short, given the 21-period MA, which worked as resistance this month. Sellers can then target $0.088 and $0.073 rendered as take-profit levels. Related Reading: Is SOL About To Crumble? Major NFT Projects Plan To Switch To Other Blockchains Chiliz Price Prediction Meanwhile, Anton Kharitonov, a Traders Union crypto analyst, has a different forecast for the price of Chiliz. According to Kharitonov, Chiliz will fluctuate between $0.00558 (the low end of the projection) and $0.0167 (the high end of the forecast) between now and the end of 2023. Kharitonov’s analysis suggests that the price of CHZ will rise to $0.20 by then.
CHZ’s price shows bullish signs as price breaks out above its range channel showing signs to rally high as FTX fiascos continue. CHZ’s price trades above $0.25 with the market’s current state, as things look uncertain for most traders and investors. CHZ’s price bounces from a low of $0.2 on the daily timeframe as the price aims for a rally to $0.4 above the 50 Exponential Moving Average (EMA) The price action displayed by Chiliz (CHZ) in recent times has been encouraging, considering how close the world cup has come. After the FTX saga that has troubled the hearts of many traders and investors, the price of Chiliz (CHZ) has given many a reason to be hopeful. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks saw the price of Bitcoin (BTC) perform well, rallying from a low of $19,200 to a high of $21,600. The fever of the world cup beckons on most traders and investors shifting their hearts from the recent downtrend in the market. (Data from Binance) Related Reading: Chiliz (CHZ) Leads Market Gains With Over 8% Chiliz (LTC) Price Analysis On The Weekly Chart The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline. The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon. FTX news hugely impacted the price of CHZ, sending the price into a spiral movement to a region of $0.2 as the price bounced off this region with what looked like a temporary demand zone to hold off a big sell-off. With the world cup fast approaching, the price of CHZ picked up being a fan and community token with so many expectations for this one. The price of CHZ bounced off this region showing some great strength to a region of $0.25 as the price aims to break higher to $0.4. The price of CHZ needs to hold above $0.3 for more signs of relief toward $0.4. Weekly resistance for the price of CHZ – $0.3. Weekly support for the price of CHZ – $0.23. Price Analysis Of CHZ On The Daily (1D) Chart The price of CHZ remains considerably strong in the daily timeframe as the price trades above $0.23 support after bouncing off from the region of $0.2. If the price of CHZ holds above $0.23, we could see more rallies for the CHZ price; with the world cup getting closer, this could be a catalyst for the price of CHZ. Daily resistance for the CHZ price – $0.3-$0.4. Daily support for the CHZ price – $0.24. Related Reading: Multicoin Expects FTX Contagion To Hold Industry In Its Grips For Weeks To Come Featured Image From Premium Times, Charts From Tradingview
The leading blockchain for sports and entertainment Chiliz has scored 29% gains in the last week. Most of October saw CHZ trade below the $0.2 mark. However, the last few days of the month saw the token break past this barrier. It established a new local high of $0.2524 today. This is the first time CHZ is reaching this high in the last 30 days. Several developments are responsible for CHZ’s recent growth. First, the blockchain recently released Cayenne, its Scotville testnet’s fourth and final phase. Plus, the FIFA world cup is scheduled to kick off this November. Being the football organization’s official crypto token, market participants expect an increase in demand during the period. Related Reading: Dogecoin Shows Bullish Bias As $0.12 Support Holds; Will $0.15 Be Breached? Upcoming FIFA World Cup Tournament Causes CHZ To Soar The next edition of the FIFA World Cup will be the tournament’s 22nd iteration and will be held in Qatar. The tournament will last for 28 days, beginning from November 20 to December 18. As the world cup draws closer, fan tokens are seeing a price surge, looking to outperform meme coins like SHIB. Demand for CHZ on the Chiliz network may remain strong thanks to the tournament’s offers. Chiliz is a platform where sports fans can get involved with their favorite teams. This is achieved by providing them with a variety of incentives, including monetary bonuses, event tickets, and access to exclusive sales. The value of Chiliz’s native cryptocurrency, CHZ, has increased by 29% over the past week. This is mostly due to the growing acceptance of blockchain technology in the sports business. The CHZ token functions as both an internal currency and a means of exchanging fan tokens among users. In the context of the FIFA World Cup 2022, CHZ is the only cryptocurrency that will be utilized directly by the fan community. However, there are other cryptocurrencies that will be present, although in the capacity of sponsors. Crypto.com was the first to introduce itself to the public by announcing its tournament sponsorship in March 2022. Crypto.com is already well-known as a brand sponsor of several sports, including Formula 1 and the Italian Serie A. What the Charts Say About Chiliz Next Price Movement Chiliz is currently worth $0.2524, and there was $460 million worth of trades in the last 24 hours. The token has seen a 4.04% gain in the last day. It started the day trading at $0.2613, establishing a local high. Traders expect a price increase in the days ahead. This is because the token converted its $0.2345 resistance level to support, keeping the currency steady at its current levels. The CHZ/USD 4-hour chart has been trending upwards, suggesting that the positive momentum for CHZ will continue. Related Reading: BNB Coin Surges By Over 20% During Market Pullback The CHZ/USD pair has finished a 23.6% Fibonacci retracement. Thus, a bearish breach below $0.2345 might reduce the price to the 38.2% Fib level. There is some uncertainty in the market as both the RSI and MACD indicators are in conflicting buying and selling zones. Thus $0.2345 is a key level that will affect buying and selling decisions in the coming days. Featured image from Pixabay and chart from TradingView.com
Is Chiliz a good investment? Is Chiliz crypto a good buy in 2023? And most importantly, can Chiliz reach 10 $ next year? Let's analyze.
The outlook of the general crypto market hasn’t been very encouraging in recent times. This week saw most coins losing their daily and weekly price gains. For instance, Bitcoin stayed red in both daily and weekly price gains. Currently, its 24-hour price is showing a drop of 1.83%. But the 7 days movement shows a price loss of 4%. Ethereum has also shown an unimaginable loss in its 7 days price gain. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? As of September 23, ETH hourly gain, 24 hours gain, and 7 days were all red. The crypto lost 0.02% in 24 hours and 11.44% in the 7-day movement. Chiliz CHZ Not Affected By Bearish Trend Chiliz (CHZ) is showing a different price movement amid the bearish momentum. Its gains in 7 days have continued to increase. Currently, CHZ is trading at $0.2685, showing a 5.31% price increase in 24 hours. But this gain is not the most interesting since CHZ’s price in 7 days has increased by around 30%. Since September 16, the coin has continued to climb considerably. It opened the market at $0.1901 but jumped during the day, reaching $0.2099. That day marked the beginning of a positive price movement that has lasted till today. CHZ has maintained its hold above $0.2 and hasn’t dipped below the price since September 16. But what could be pushing Chiliz CHZ continuously? The first notable push started with the announcement of CHZ 2.0, Chiliz native chain, last month. The developers informed the community of their intentions about launching the chain for their NFTs and fungible tokens, moving them away from the Ethereum blockchain. The announcement led to a spike in price and trading volume. After the information, the crypto whales again showed their hands, pushing transactions higher. Data reveal that the transactions reached above $100,000 and caused a rise in CHZ price by 12.5% on the same day. Analysts also predicted last month that CHZ would hit its cup and handle the pattern profit target of $0.32 by September. The indications were shown on August 14 when the token broke out of its prevailing cup and handle setup. Will, The Macro Factors Push CHZ Price, Down? Analysts predicted that CHZ would reach its profit target this month due to its positive movement in August. With the current movement in price, the token might reach the predicted price very soon. Gaining 30% in seven days is not an easy feat amid the ongoing bear trend. If it continues in that trend, CHZ might grow higher before September ends. Related Reading: PoW Tokens Take A Hit: Ravencoin and Ethereum Classic Crash Over 20% But then, the bearish market is due to macroeconomic factors, including inflation, a rising level of CPI, and continuous interest rate hikes. These factors contributed to the crash in the crypto market. No one can predict prices. So CHZ has many challenges to face to continue its upward trend. Featured image from Pixabay and chart from TradingView.com
Several altcoins have not only outperformed Bitcoin and Ethereum in the last three months but have also posted impressive gains.
A mix of fundamental, on-chain and technical catalysts has driven the CHZ price to its best levels since April 2022. What's next?
In a notable development that signifies the growing adoption of blockchain technology in the sports industry, Paris Saint-Germain (PSG) has announced its deepening partnership with Chiliz (CHZ), the Malta-based FinTech provider. PSG, one of the world’s most renowned football clubs, is set to become the first sports club to act as an official blockchain validator on the Chiliz Chain, a significant milestone for both organizations. Chiliz $1 Billion SportFi Ecosystem Attracts PSG According to Thursday’s announcement, the latest collaboration will see PSG play an important role in ensuring the security, accuracy, and reliability of the Chiliz chain. In particular, validators are essential to maintaining the integrity and operation of a blockchain network. Since its partnership with Chiliz in 2018, which led to the launch of the PSG Fan Token – the club’s official digital asset – PSG has become increasingly involved in adopting Web3 in sports. The club’s approach to Web3 innovation is further highlighted by the appointment of Pär Helgosson as the Head of Web3, a position dedicated to driving the club’s digital transformation. Related Reading: Bitcoin Long-Term Call: Analyst Predicts Price To Soar To $500,000 Per the announcement, the choice of Chiliz as the platform for this initiative is attributed to its robust $1 billion SportFi ecosystem, which attracts a large community of crypto-native sports fans. Chiliz’s infrastructure and support for decentralized applications (dApps) have made it a preferred platform for over 50 web3 projects, showcasing its capacity to attract large Web3 products and services. Web3 Adoption In Sports To support the Chiliz Chain’s continued growth, PSG has pledged to use 100% of its accrued revenue as a validator to conduct regular buybacks of the PSG Fan Token from the public marketplace. According to the announcement, these automated buybacks, executed through smart contracts or decentralized exchanges (DEXs) on the Chiliz chain, are expected to strengthen the club’s digital economy and regularly replenish its Fan Token reserves. In addition to its role as a validator, PSG and Chiliz will co-host their first-ever blockchain hackathon at the Parc Des Princes stadium in Paris, France, in the summer of 2024. Alex Dreyfus, CEO of Chiliz and Socios.com, expressed his excitement about PSG’s involvement as an official validator, stating: This evolution marks a significant milestone in the adoption of web3 by fans, clubs, and leagues. PSG’s active role as an official validator will undoubtedly propel our SportFi ecosystem to new areas, furthering our long-standing partnership with the club. Pär Helgosson, Head of Web3 at Paris Saint-Germain, emphasized the club’s commitment to designing and shaping the future of web3 sports, stating: Our commitment is to build a more empowered and sustainable web3 ecosystem, leveraging the solid foundation of our existing relationship with Socios and Chiliz. PSG is committed to fostering innovation, and the club will continue to develop opportunities with other partners in this space. CHZ Skyrockets To $1.13 Billion Market Cap Following the announcement on Thursday, the Chiliz native token CHZ, originally launched as an Ethereum-based ERC-20 token, has experienced a significant surge in its trading price, reaching $0.1283 and achieving a market capitalization of $1.13 billion. Related Reading: Green Bitcoin: Sustainable Energy Usage Surges To Record 55% High Since the beginning of Thursday, the token has continued its upward trend, witnessing a 9% price increase. This growth adds to the token’s sustained positive performance over longer periods, aligning with the overall market trend. Over the past seven and fourteen days, CHZ has demonstrated notable price increases of 19.5% and 25%, respectively. Moreover, within the last thirty days, it has experienced a remarkable surge of 32%, allowing the token to bridge the year-to-date gap. Despite a decline of approximately 6% over this timeframe, the recent surge has significantly mitigated the overall loss. Featured image from Shutterstock, chart from TradingView.com
Chiliz is shaking up the sports and entertainment industry with its innovative use of cutting-edge digital assets to elevate fan experiences. At the core of this revolutionary ecosystem lies CHZ, the native token that fuels popular platforms such as Socios.com, ChilizX, and the highly anticipated Chiliz Chain 2.0. The upcoming public launch of their layer [...]
The post Chiliz Hot Streak Sees CHZ Notching 13% Rally Ahead Of Chain 2.0 Launch appeared first on Crypto Breaking News.
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