- Chiliz price is consolidating in anticipation of a volatile bull rally.
- A decisive close above the supply zone that ranges from $0.594 to $0.645 will signal the start of this uptrend.
- The bullish scenario will face extinction if the resistance level at $0.510 is shattered.
Chiliz price has surged exorbitantly since the sell-off witnessed in April. Now, CHZ is coiling up, preparing for blast-off.
Chiliz price eyes higher high
On the 6-hour chart, Chiliz price shows that it is undergoing a correction after rallying nearly 30% since April 28. After bouncing from the support level at $0.519, CHZ looks to breakout out of this consolidation and head higher.
A sudden spike in buying pressure will most likely push Chiliz price toward the supply barrier that stretches from $0.594 to $0.645. This area of resistance has rejected CHZ thrice from surging higher, depleting the sellers present here.
Therefore, if bid orders pile up, the upcoming surge will flip the said zone into support. Under these circumstances, Chiliz price will have a path of resistance to retest a pre-crash level at $0.746.
In total, Chiliz price could potentially surge 35% in the near future.
CHZ/USDT 6-hour chart
On the flip side, if buyers fail to slice through the said zone, another correction might ensue toward the support level at $0.510.
A breakdown of the cluster of 50, 100 and 200 Simple Moving Averages present between $0.517 and $0.495 will invalidate the bullish outlook.
If investors begin to panic sell here, then the demand zone that extends from $0.453 to $0.477 will be tested.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.