MEXCRSI Divergence Foretells The Chiliz Price Rally Could Hit $0.3
The Chilliz coin price shows the formation of a megaphone pattern in the daily time frame chart. The coin price retested the pattern’s expanding trendline thrice, indicating the trades are following with pattern. Though this technical setup offers a duel side breakout opportunity, the bullish divergence RSI gives buyers an upper hand
Key Points:
- The CHZ price shows following a bull cycle with the chart pattern
- The $0.222 breakout would accelerate the bullish momentum.
- The 24-hour trading volume in the Chiliz coin is $1.26 Million, indicating an 11.2% gain.
Source-Tradingview
Chiliz holders seem to take the FTT tragedy better than others in the crypto market as the market price bounces back above $0.20. After a remarkable price jump of 40% yesterday, currently, the power struggle draws a Doji candle in the daily candle.
Recovering half of the lost value during the recent market crash, Chiliz price trend sustains above the 50-100-200-day EMA. However, the Doji warns of an evening star at the $0.22 resistance level, promoting a bearish reversal.
Monitoring the larger price action, a megaphone pattern stands out in the daily timeframe with an ongoing bull cycle. This increases the possibility of an upside breakout, but the buyers must overtake the 20-day EMA to continue the cycle.
Anyhow, a prolonged increase in the Chiliz price will reach the overhead bearish milestone at $3, accounting for a 36% jump.
However, an evening star will dump the market price by 16% to test the $0.18 level, followed by $0.153.
Technical Indicator
RSI: The daily RSI slope shows a bullish divergence concerning the last two swing highs within the pattern. This divergence indicates growing bullish momentum and a higher chance for a bullish breakout.
EMAs: the flatish EMAs(20, 50, 100, and 200) reflect an uncertain trend in Chiliz price. However, the price trading above most gives buyers an extra edge.
Chiliz intraday price levels
- Spot price: $0.218
- Trend: Bullish
- Volatility: High
- Resistance level- $0.22 and $0.2581
- Support level- $0.187 and $0.153
- Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026
- Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com
- Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards
- Coinbase Prime Taps Figment to Boost Institutional Staking on Solana, Cardano, and Sui
- Here’s Why Zcash (ZEC) Price Tanked 10% Today Following 500% Rally
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
- HBAR Price Poised to Hit $0.30 as Canary Capital ETF Starts Trading.
- Will Solana Price Rally to $300 as Bitwise Launches $BSOL ETF?
- XRP Price Chart Patterns Hint at 2017-Style Breakout as Evernorth Acquires $1B XRP Ahead of Nasdaq Debut
- Cardano Price Eyes 80% Rally as x402 Upgrade Sparks Hope for AI Payment Expansion
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
