Chiliz (CHZ) is showing potential signs of a long-term trend reversal after a multi-year decline, according to technical analysis. The token, trading near $0.043, is being watched for a breakout above key resistance levels at $0.045 and $0.05. Some analysts have drawn comparisons to its 2021 bull market structure, though a speculative projection toward $0.90 remains highly contingent on broader market conditions.
Analysts are monitoring Chiliz for a potential breakout from a prolonged downtrend that began after its 2021 peak near $0.93. The token has recently been trading in a narrow range between $0.04 and $0.05, which some view as a period of accumulation.
Crypto analyst Whale Factor shared a positive outlook, “pointing to similarities between the current market structure and the strong rally recorded during 2021.” A confirmed breakout above the descending resistance trend line with volume could signal a bullish recovery.
On daily timeframes, CHZ is holding above its key moving averages, which now provide support between $0.0405 and $0.0430. Momentum indicators on TradingView also suggest weakening selling pressure as the token prints higher lows.
The overall recovery momentum will depend on CHZ maintaining its support levels and decisively breaking through overhead resistance. Analysts note that resistance zones from $0.08 to $0.12 would be important for confirming a larger-scale recovery.
