Increasing volume in Chiliz intraday trades pointed to a likely bullish comeback in the coin’s price. Since the start of trading today, the volume of Chiliz has increased from $395,564,490 to $694,854,345. Market capitalization rose from $1,203,242,510 to $1,222,317,487 as trading volume rose. Increases in both trading activity and market capitalization of this magnitude suggest that a turnaround may be in the works. This could be the case if we believe real-time data. A cup-and-handle pattern appears on the chart, suggesting a possible or current upswing. As a whole, the cryptocurrency market has been seeking to rebound from the unfavorable market conditions that have dominated the financial sphere, so the recovery should come as no surprise for Chiliz. Related Reading: AVAX Price Rebound Fails To Breach $22 Resistance Due To High CPI Data The ensuing crashes in April–August further reinforced the consensus that the crypto winter would last for some time. Chiliz Bulls Facing $0.2505 Resistance The bulls in this market are currently testing the $0.2505 resistance level. Resistance at the 38.20 Fibonacci level sits at $0.2615, thus this price range is below that. Any price action for Chiliz above these levels would signal a continuation of the bullish trend that began at $0.2505 and is currently in play. Indicators provide a similar positive rebound narrative. The momentum indicator maintains a V-shaped pattern, indicatin...
