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Chiliz (CHZ) Could Be Set For A Hot Streak With This Data

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Chiliz (CHZ) Could Be Set For A Hot Streak With This Data

Chiliz (CHZ) is a blockchain technology company that aims to tokenize the sports and entertainment space.

  • CHZ displaying enormous traction and uptick despite a bearish market
  • Chiliz partners with giant sports organizations and teams
  • CHZ price spikes by 6.21% as of press time

Chiliz has ramped up on major developments and partnerships with giant sports organizations and teams all over the world.

According to CoinMarketCap, CHZ’s price has soared by 6.21% or trading at $0.2161 as of this writing.

CHZ Collaborates With Sports Clubs

CHZ has shown a massive price spike last month following Chiliz’s partnership with FC Barcelona, a well-famed Spanish football club.

The token was seen to climb by 73% on August 18, showcasing a four-month high. This recent price spike anchored the token to outperform major cryptos like Bitcoin and Ethereum.

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Basically, Chiliz is an open platform that allows a variety of sports organizations to mint limited tradeable fan tokens that provide their fans exclusive membership benefits and perks, access to NFTs, voting rights, and merchandise rewards.

Chiliz has expanded its network with football clubs and organizations including FC Barcelona, Paris-Saint Germain, Manchester City, and Atlético de Madrid.

Sports teams partner up with Chiliz for brand awareness and marketing plus also provide fans with modern and immersive experiences.

CHZ Joining The Ranks Of Top Performing Crypto

Chiliz is currently the 47th largest crypto in terms of market cap at $1,293 billion as of this writing.

CHZ has currently joined the bandwagon of the top-performing cryptos over the weekend. So far, the coin was able to spike by 9.2% in the past 24 hours.

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This might be a minimal spike compared to the performance of other coins but at this point, the performance of CHZ is extraordinary considering the bearish market.

CHZ recently announced on September 15 their plans to roll out a new fan token which has encouraged more investors to buy and trade the coin.

Technical factors also contributed to CHZ’s uptrend. The crypto has been extremely bearish as it experienced a correction dropping from $0.24 to hitting a weekly low of $0.164.

The RSI of CHZ is shooting above 50 implying a strong buying pressure. The performance of Chiliz the past week is comparably lower in comparison to the previous key support zone retested a week earlier.

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CHZ total market cap at $1.4 billion on the daily chart | Source: TradingView.com    Featured image from DailyCoin, Chart: TradingView.com    (The analysis represents the author's personal views and should not be construed as investment advice).

Bitcoin

Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

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Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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Bitcoin

TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

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TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance.

  • Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels.
  • The price is trading above $20,100 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain bullish momentum if there is a clear move above the $20,500 resistance.

Bitcoin Price Remains Supported

Bitcoin price attempted an upside break above the $20,500 resistance zone. However, BTC struggled near the $20,450 zone and started a downside correction.

There was a move below the $20,000 support zone, but the price remained supported well above the 100 hourly simple moving average. It traded as low as $19,754 and recently started a fresh increase. There was a clear move above the $20,000 and $20,200 resistance levels.

Bitcoin price climbed above the 50% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. It is now trading above $20,100 and the 100 hourly simple moving average. Besides, there is also a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair.

It also cleared the 76.4% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. On the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone.

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Source: BTCUSD on TradingView.com

A proper close above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,000 resistance zone. In the stated case, the bulls might aim a move towards the $22,000 level.

Dips Supported in BTC?

If bitcoin fails to rise above the $20,450 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 zone.

The next major support is near the $20,100 zone and the trend line. A downside break below the trend line might send the price towards $19,750. The main support is near $19,500, below which the price might start a steady decline.

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Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $20,200, followed by $20,000.

Major Resistance Levels – $20,500, $21,200 and $22,000.

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Bitcoin

Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

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Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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