Chiliz Price Gains: Will CHZ Continue Bullish Momentum?

Chiliz, a popular cryptocurrency in the sports and entertainment space, facilitates the creation of fan tokens to create interactions between fans and sports teams. This is the first sports-based cryptocurrency exchange where enthusiasts can trade Fan Tokens. Stakeholders of this fan token gain voting rights and also allow for discounts, promotions, contests, and winning prizes for autographed club merchandise.

Chiliz was created to solve two problems – sports team participation and funding. It allows them to own partial shares of their favorite teams and participate in different competitions, sports and entertainment businesses.

Therefore, it helps to expand the engagement of fans and team members, making the game more popular and engaging. It was founded in 2018 by Alexander Dreyfus, who provided the technology to create a seamless way between sports teams and their fans. His goal is to monetize their channel to raise money for the team.

The platform offers easy-to-access customer-friendly products and services, even for new cryptocurrency users. It has a user-friendly interface and responsive customer support that guides users throughout the process. If you are interested in investing, read our technical price analysis.

CHZ has been in an uptrend for the past six months, forming higher highs, but it broke support at $0.19 in the third week of October. Since then, Chiliz has recovered from the lows, showing an upward momentum.

It will break the previous high at $0.27 and form another higher high as the candlestick is forming on the upper Bollinger Band. Most technical indicators are positive at this point, so this could be a good short-term buying opportunity. Read our detailed price analysis and CHZ coin price prediction to better understand the coin’s future performance.

After forming a bottom around $0.9, Chiliz is now in an uptrend; it formed another lower high near $0.16. We think now is a good time to accumulate some CHZ over the long term as it could break above the previous high of $0.27.

Source of information: Compiled from CRYPTONEWSZ by 0x information.The copyright belongs to the author and may not be reproduced without permission

Related Posts