Chiliz (CHZ) is showing technical signs of a bullish uptrend as Bitcoin holds above $78,000. Data from CoinMarketCap shows CHZ trading at $0.047 with a 24-hour gain of 1.34%. Analysts highlight a key breakout zone between $0.058 and $0.064 and note the token is trading above its key exponential moving averages, indicating bullish control.
The price of Chiliz (CHZ) is moving upward as Bitcoin maintains its position above $78,000. According to CoinMarketCap, CHZ surged 1.34% over 24 hours and 12.57% over the past week as of Thursday, April 23.
CHZ is currently trading at $0.047 with a 24-hour trading volume of approximately $87 million. Its market capitalization stands at nearly $487 million, showing an increase of 1.33%.
Analyst Hailey LUNC XRP highlighted that CHZ shows early signs of a bullish reversal after an extended downtrend. “The formation of higher lows alongside a sharp impulsive move suggests a structural shift,” the analyst stated, indicating seller exhaustion.
The market is now focused on overhead liquidity in the $0.058 to $0.064 range, considered the next target zone. A successful breakout would set the stage for a faster bullish run driven by new entrants.
TradingView analysis shows CHZ building a strong bullish breakout above its key moving averages. The price has stabilized near $0.048 and is trading near the top band of the Bollinger Bands.
Technically, the token is trending higher while trading comfortably above the 20, 50, 100, and 200 EMAs. The 20 EMA serves as a dynamic support level, while converging Bollinger Bands indicate reduced volatility before a potential expansion.
