CHZ prices are on the verge of breaking above a double bottom pattern with the neckline at $0.10, potentially leading to a bull run. Key technical points: CHZ prices have jumped by 4.55% in the last 24 hours. The price action teases a potential bullish breakout of the $0.10 resistance level. The 24-hour trading volume of Chiliz is $152 Million, indicating a drop of 227%. Past Performance of CHZ The CHZ price action shows a long-coming sideways trend in the daily chart after succumbing and the $0.10 mark. However, the growing bullish influence forms a double bottom pattern with the neckline and the psychological mark of $0.10. Additionally, the recent growth challenges the 50-day SMA close to the double bottom’s neckline, teasing a potential bullish breakout. Source- Tradingview CHZ Technical Analysis The CHZ price shows an increase in intraday trading volume, supporting the bullish trend and undermining the higher price rejection faced last night. Hence the price action shows a high probability of a bullish trend continuing above the opposing 50-day SMA. The DMI indicator shows the DI lines gradually gaining a bullish spread with an increase in trend momentum evident by the reversal in the ADX line. Hence the technical indicator supports the possibility of a bullish trend above the $0.10 mark. The RSI indicator shows an ongoing uptrend in the underlying bullishness with the support of the 14-day average line and sustains in th...
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