Chiliz Defies Pullback: Charting CHZ's Path to $0.1 and Beyond

Chiliz (CHZ) has shown surprising resilience by not dropping to the predicted $0.05 level despite bearish signals. Instead, the price has increased significantly in recent days. In addition, Chiliz has joined the MiCA Crypto Alliance to support the development of crypto white papers in its ecosystem.

Key Takeaways

Chiliz's price has increased by 2.49% in the last 24 hours and 27.7% over the past week.
The token's breakout past $0.05 has sparked bullish sentiment among traders.
Investors should remain cautious of potential short-term volatility, but the long-term outlook appears positive.

CHZ breakout gains authority as bulls target $0.1 and beyond

CHZ Bulls Targeting $0.1 and Beyond

Crypto trader IncomeSharks noted on social media platform X that the On-Balance Volume (OBV) of the CHZ token surged during the recent breakout above $0.05. This price point has served as a significant resistance level for nearly a year.

Chiliz 1-day Chart Source: CHZ/USDT on TradingView

The daily price movements of Chiliz indicate a strong bullish momentum. The Money Flow Index (MFI) is above 80, with average trading volumes steadily increasing over the past month. The immediate target for bulls is the $0.064 to $0.072 supply zone, established in February 2025. A successful breakout beyond this region would create further buying opportunities for swing traders.

Should Traders Prepare for a Significant Price Dip?

The Accumulation/Distribution (A/D) indicator hints at a possible bearish divergence, which could result in a slight price dip. However, a significant drop below the $0.035 to $0.040 range seems unlikely based on current market data. Traders should anticipate possible short-term volatility, as the liquidation map indicates a potential liquidity hunt around the $0.05 mark.

Chiliz Liquidation Map Source: CoinGlass

Clusters of high-leverage long liquidations are positioned below the current market price of $0.058, with cumulative long leverage at a significantly higher level, which may encourage a dip in CHZ prices.

Reasons for a Bullish Stance

Despite the short-term volatility, the overall market sentiment remains bullish following CHZ's recent break above a crucial resistance level. Investors must stay focused on their long-term strategies and not let short-term fluctuations affect their decisions. According to the daily chart analysis, a price fall below $0.027 would render the bullish outlook invalid, while the support levels at $0.035 and $0.040 should provide some protection against selling pressures.

Conclusion

Disclaimer: The information presented here is not intended as financial, investment, trading, or any other type of advice, but solely reflects the writer’s opinion.