Chiliz (CHZ) turns bullish amidst the FIFA world cup hype!
Chiliz is a cryptocurrency that aims to fill the gap between sports teams and their fans using fan tokens, increasing engagement and raising funds for these sports teams. The FIFA World Cup hype increased the price of CHZ for the short term, and investors are expecting a rally until the end of the FIFA World Cup.
Chiliz is a platform that empowers sports enthusiasts to interact with their favorite sports teams. They get rewards, bonuses, and tickets for events and shopping. It is the most popular crypto that brings crypto technology and Web 3.0 to the sports industry. The event starts in November and ends in December. These fans’ tokens will perform better than the rest of the market.
The team that partners with Chiliz can customize their experience using the fan tokens and engage with the fans in different ways, such as uniform design, decision-making, starting lineups, songs, events, and much more.
Generally, fans can only engage with their teams by watching the games, but now with the development of blockchain technologies, fans can directly participate in team management decisions and participate in teams’ success in this World Cup.
If you want to buy fan tokens for your favorite teams, you need to purchase CHZ. Fans can purchase Fan tokens of their favorite teams using CHZ. It is available on Socios.com, which is a crowd-management platform that powers Chiliz.
At the time of writing this post, CHZ was trading around $0.242. Overall, the candlesticks are forming higher highs in the short term, but $0.27 is the resistance for the Chiliz coin. All the technical indicators suggest CHZ will cross this level decisively.
MACD is bullish with green histograms; RSI is around 67, and candles are forming in the upper Bollinger Bands with an increase in volume and volatility that suggest strong positive momentum for the short term. Read our Chiliz prediction for the next few years to understand how the token may perform.
On the weekly chart, the Chiliz price has taken support around $0.17 and formed three weekly bullish candles that suggest momentum for the long term. Indeed $0.27 is a resistance, but CHZ will form a higher high in the long term. It is the right time to invest for the long term, and most technical indicators are bullish, so we do not think the token will break this support in the next few weeks.
