Chiliz Price Prediction: CHZ 40 Percent Bull Run Explained

In yesterday’s trading session, the Chiliz price was up by 10 per cent, wiping out the previous day’s losses and continuing an aggressive trend that has lasted for more than a week. Today, the strong bullish trend looks to be continuing, with prices already up by 8 per cent. 

Chiliz Price History

Despite being one of the most innovative cryptocurrency projects that is tapping into the multibillion-dollar sports industry, Chiliz has continually struggled throughout the year. In June, Chiliz opened the market trading at $0.122. However, within a few weeks, the prices had dropped and were trading at $0.0811. This was a 33 per cent drop from the prices at which Chiliz was trading at the beginning of the month.

However, by the start of the second half of the month, the prices had already started to recover. The recovery has seen the price move from the price low of $0.0811 to the current price of $0.117, a 44 per cent price jump, with much of the upward trend coming in the past 10 days. 

The Chiliz price June struggle was a continuation of a long-term bearish trend that had persisted throughout the year. In May, for instance, Chiliz was down by 28 per cent. The crypto had also done worse in April when its prices dropped by 39 per cent. 

Chiliz Price Prediction

In today’s trading session, Chiliz is up by 8 per cent. The prices also look poised to continue with the aggressive bullish trend, which may see prices closing even higher. Despite Chiliz opening the month with an aggressive bearish move, the prices look to have reversed the trend. Currently, the prices are in a strong, long-term bullish trend which has seen them rise by more than 40 per cent in the past 10 days.

I also expect the current bullish trend to continue, with the resistance level of $0.136 likely to be hit. There is also a high likelihood that we will see the prices trading above the 0.15 price level. My analysis will, however, be invalidated if prices close below yesterday’s opening price of $0.098. At that point, the bearish trend will have been confirmed.

Chiliz Daily Chart