In the weekly chart, Chiliz seems to be recovering from its weekly losses after gaining around 21.4% in the past 24 hours. The token has gained its push from the current bitcoin recovery to $34K and like other altcoins, the past 24 hours have been favourable towards the token.
At the time of writing, CHZ is trading at $0.244 on major exchanges.
Chiliz (CHZ) Price Analysis
Chiliz has managed to grow past the $0.21 support levels and it is now inching towards $0.30. However, such a growth depends on how the crypto market will perform because that will be the main factor that will give the token support.
Chiliz coin shows great signs of gaining support at its current levels and moving towards an uptrend. To show a strong bullish movement, the token needs to push and test an upper resistance of $0.30 and then $0.35. Such higher levels may create a selloff for the token and this may lead to a price retraction to lower levels.
On the other hand, if CHZ retreats to below $0.20 because of a selloff, it might create a good entry position for new holders and this may create price stability at above $0.20. Most technical indicators show that CHZ remains at a neutral buy and sell position hence prices may stabilize at the current levels for a while.
Chiliz is one of the popular altcoins that show potential for growth. This follows its adoption by major sporting clubs in Soccer that wants to launch fan tokens. fan tokens have become a major craze in the crypto market because they create a new and unique way for fans to interact with their favourite clubs.
Token’s survival in the competitive and volatile crypto market largely depends on the unique factor a token is bringing to the table. With CHZ venturing into fan tokens and becoming fully adopted, it has created a space for itself and has found space in some of the largest exchanges. It hence makes a good buy for both the long term and the short term.
Where to Buy Chiliz
If you want to purchase CHZ tokens, you need to create an account on a crypto exchange. Some of the most popular exchanges include:
eToro is one of the leading exchanges from which you can buy Chiliz tokens. The exchange comes with a unique set of features that make it easy for a user to buy and sell cryptocurrencies. Moreover, eToro offers support to a long list of cryptocurrencies.
The other major exchange from which you can buy CHZ tokens is Binance. The exchange comes with many crypto trading pairs to select from and offers low trading fees. Its features also make it easy for traders to buy and sell cryptocurrencies.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider