The Chiliz (CHZ) token surged over 10% to $0.038, accompanied by a significant 89.95% jump in 24-hour trading volume to $88.73 million. This rally pushed its market capitalization to $393.19 million as the price broke above a key descending trend channel. However, the token faces a crucial resistance zone near $0.038, and underlying order-flow data reveals persistent sell pressure despite the price increase.
The Chiliz token has climbed over 10% to $0.038, while its 24-hour trading volume jumped 89.95% to $88.73 million. This activity pushed its market capitalization to $393.19 million, highlighting rapid expansion in trading participation.
CHZ is now confronting an important resistance region around $0.038, which historically acted as a short-term barrier. Rising trading volume often reflects stronger market engagement, and that dynamic has now appeared clearly in CHZ’s latest move.
Price structure has shifted after CHZ broke above its descending regression trend channel that guided a broader decline since early January. The breakout occurred near $0.038, signaling that downward pressure has started weakening.
The next structural barrier on the daily chart stands at resistance near $0.045. Price stabilization above the breakout zone has become critical for maintaining the emerging recovery structure.
Technical indicators also support the improvement, with the RSI climbing to 51.52. “This recovery from the lower RSI zone suggests that selling pressure has gradually faded after the earlier decline,” the analysis noted.
Order-flow data introduces a more complex signal, as Spot Taker CVD remains sell-dominant. This divergence suggests sellers have remained active even as the price climbs higher, raising important structural questions about the rally’s sustainability.
Positioning data from Binance revealed a strong bullish bias among experienced traders, with long positions accounting for 64.03% of positions. “Such positioning often reflects expectations of further upside or continued recovery from recent lows,” the data indicated.
The current Long/Short Ratio of 1.78 suggests professional participants have recognized the breakout. However, strong long concentration also introduces liquidation risk if the price fails to sustain its current levels.
CHZ has established a constructive recovery structure after breaking above its descending regression trend. If buyers continue absorbing sell pressure near $0.038, the breakout may hold and extend higher.
