Chiliz (CHZ) Analysis
In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.
Chiliz (CHZ) technical analysis:
Trade setup: Bearish breakout from Ascending Triangle signaled downtrend resumption and price has also broken below $0.06 support, which held up in June. Currently, there is no actionable trade setup here. (set a price alert). Chiliz is a digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement & rewards platform Socios.com.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Support and Resistance: Nearest Support Zone is $0.060, which it broke, then $0.055. The nearest Resistance Zone is $0.085, then $0.100.
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What is Chiliz (CHZ)?
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Chiliz developed the Socios.com sports fan engagement platform which is built on the Chiliz blockchain infrastructure & uses $CHZ as it’s exclusive on-platform currency.
Chiliz is a currency option for blockchain-backed products & services geared towards mainstream consumers. We want to elevate everyday experiences – fan engagement in entertainment, alternative payment solutions for conventional products, and more. It provides sports & entertainment entities with blockchain-based tools to help them engage & monetize their audiences. We do so by building scalable service layers on top of our own private, proof of authority blockchain (the Chiliz chain). All of these projects are fueled by the Chiliz token ($CHZ), a chain-agnostic digital currency which is currently available on leading crypto exchanges around the world.