Published 21 minutes ago by
Brian Bollinger The channel pattern’s bull cycle has pierced many resistances and reached $0.257. The Chiliz price recently broke through resistance at $0.25, opening up an entry point for side-lined buyers. Should you enter the market now or wait for another price correctionadvertisementKey Points:The $0.257 breakout would accelerate the bullish momentum.
The rising EMA could provide support for a possible pullback
Chiliz coin traded at $762.5% million in 24-hours, which is a 47% increase.
Source-TradingviewThe Chiliz price resonated sideways within a megaphone pattern for the last three months. The price recovered from the pattern support trendline on November 10th with a bullish candle. This was despite a slow rally in market leaders (Bitcoin, Ethereum), and the Chiliz price has steadily recovered. This bullish rally also registers a 6.75% increase in two weeks. The coin price is currently trading at $0.2578, a 10% intraday rise, and has broken the $0.255 resistance. Trending StoriesA daily candle closing above this level will provide an additional launchpad for further growth in Chiliz prices. The bullish scenario should see the prices reach $0.3 on the overhead trendline thanks to the bullish bull cycle and megaphone pattern. The bullish scenario will see the prices rise above the trendline to the overhead trendline at $0.3. Moreover, a bullish crossover would attract more buyers to the market.advertisementEMAs: the flattish EMAs(20, 50, 100, and 200) turn upward, indicating some early signs of resumption of recovery rally.Chiliz intraday price levelsSpot price: $0.25
Trend: Bullish
Volatility Low
Resistance level: $0.283 and $0.3
Support level: $0.255 and $0.23
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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story