CHZ has been one of the best performer amongst the highest 50 cryptocurrencies by market cap during the last 24 hours.
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The broader cryptocurrency market has dipped by lower than 1% as we speak, following a wonderful begin to the week.
CHZ, the native token of the Chiliz ecosystem, is up by greater than 13% within the final 24 hours, making it one of the best performer amongst the highest 50 cryptocurrencies by market cap.
CHZ’s rally comes because the FIFA World Cup 2022 attracts closers. Chiliz is a fan token and has gained reputation within the soccer world over the previous few years. With the 2022 World Cup across the nook, CHZ’s adoption charge may surge.
The constructive efficiency comes because the broader crypto market is struggling. The entire crypto market cap stands at round $839 billion, down by roughly 1% within the final 24 hours.
Bitcoin remains to be buying and selling above $16k regardless of dropping lower than 1% of its worth as we speak. Ether is down by greater than 2% and is now buying and selling above $1,200 per coin.
Key ranges to observe
The CHZ/USD 4-hour chart has turned bearish as Chiliz has been performing effectively over the previous 24 hours. The technical indicators present that CHZ is outperforming the broader crypto market.
The MACD line has crossed into the constructive zone after rallying by greater than 13% as we speak, indicating that the bulls have taken over the CHZ market.
The 14-day relative energy index of 60 exhibits that CHZ might be heading into the overbought area over the approaching hours or days.
At press time, CHZ is buying and selling at $0,2322. If the rally continues, CHZ may surge previous the primary resistance stage at $0.2717 earlier than the top of the day.
Nevertheless, CHZ would wish the help of the broader cryptocurrency market to allow it to surpass the second main resistance stage at $0.2960 within the close to time period.
The place to purchase Chiliz now
eToro
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Bitstamp
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