Chiliz Consolidates After the Fall; Will CHZ Price Move Up?

CHZ presents itself as the native token of sports-focused crypto blockchain. Instead of launching an Initial Coin Offering, Chiliz offered a Fan Token Offering or FTO. It works as the internal currency for the social platform, which the fans can use to interact with the team jersey designs, matchups, and exhibition games.

These interactions provide sports enthusiasts with a sense of ownership and stake in the games making a better impact. Chiliz is a privately owned crypto incubator that tends to empower sports fans with a say in the decisions made by clubs and organizations.

Chiliz has touched a fresh one-year low which is tremendously below its previous peak value of October 2021. Check out Chiliz’s long-term price projections along with its price history and technical analysis by clicking here.

chiliz price analysis

The last year’s price trend of CHZ was mostly positive until November 2021. During this time, the CHZ token was above $0.20, with a potential to surpass $0.60. After hitting its fresh low in March 2022, CHZ displayed tremendous strength as the prices rose significantly within one month.

Subsequently, the support levels for this crypto were re-established from $0.14 levels, as the prices touched a low of $0.08 on May 12, 2022. Traders started to acquire this token due to lower prices, and within three weeks, there was another significant price elevation.

The regression trend indicator has established $0.137 as the key resistance level to showcase positive momentum in this cryptocurrency. However, the token requires a huge rise to return to its previous limits.

Chiliz has huge potential, but only fan interaction can get this coin moving. The more partnerships Chiliz makes with leading sports clubs and organizations, the easier would be the price elevation for CHZ.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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