- The bullish trend in the CHZ market fades after hitting resistance at $0.1394.
- Indicators imply that the bear rule in the CHZ market is far from over.
- CHZ price drops by more than 8% as bulls despair.
Bullish efforts to recoup market share in Chiliz (CHZ) during the previous 24 hours have been rendered void after hitting stiff resistance at $0.1394. At the time of writing, the negative pressure has caused the price of CHZ to fall 8.32% to $0.1265.
The CHZ market value has dropped from $919,924,961 to $842,607,675 (a loss of 8.32%) in the last day due to the current negative trend. In contrast, 24-hour trading volume increased by 94.69% to $126.526.805. Despite the pessimistic view in the Chiliz (CHZ) market, investors are confident that positive initiatives will ultimately recoup lost market share and propel the CHZ price to new heights.
CHZ/USD 24-hour price chart (source: CoinMarketCap)
With a “strong sell” signal of -0.56 on the CHZ price chart’s Technical Ratings indicator, a decline in CHZ’s value may prolong during the next trading session.
Since the Aroon up is 100.00% and the Aroon down is 71.43%, this is a bearish crossing, signaling that bea…
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