CHZ Technical Analysis: Will CHZ Prices Sustain Above $0.10?

In this technical analysis, maintaining a bullish approach, the CHZ price action shows another attempt to surpass the 50-day SMA. Will buyers exceed the opposing SMA? Key Technical Points: CHZ prices have increased by 1.43% in the last 24 hours. The price action shows a post-retest reversal from the $75 mark. The 24-hour trading volume of Chiliz is $126 Million, indicating a rise of 34%. Past Performance of CHZ The CHZ price action shows a bullish reversal from $0.083 to the psychological mark of $0.10 in June 2022. The 50day SMA at the psychological mark knocks the bullish reversal leading to a sideways trend continuation. The price action shows a third attempt to surpass the confluence of the crucial resistance level at $0.10 and the 50day SMA. Source – Tradingview CHZ Technical Analysis The CHZ price chart shows an increase in trading volume supporting the third breakout attempt, increasing the possibility of a bull run above the $0.10 mark. However, the higher price rejection from the 50-day SMA raises doubts about bullish continuation. The MACD indicator shows the fast and slow lines surge higher to reach the positive territory with an increase in the bullish spread. Moreover, the increasing intensity of the positive histograms teases a potential price jump above the psychological mark. The RSI indicator shows a sharp V-shaped reversal in the nearly oversold territory, surpassing the halfway line. Thus, indicating an incr...