Chiliz price has maintained a notable trend since the start, overcoming multiple downsides and dips. The rally started a year ago where the asset quickly jumped over 2000% in just a fortnight. However, since then the asset started to dip until it reached the lowest levels around $0.000016. Still, CHZ price is currently constantly trying to switch from the support but failed. But with the current surge, the asset should test and clear to undergo a gigantic rally ahead.
CHZ price lately has shown huge possibilities to undergo a noticeable uptrend. Still, some of the crucial levels need to be tested to maintain a noticeable uptrend. Therefore, until and unless the asset accumulates noticeable gains, one can expect less possibility of a reversal in the near future.
Also Read: This Is When The Price Of Bitcoin (BTC) May Break Out Of Consolidation And Correction To Trigger Bull Run!
The CHZ price in the higher period seems to be extremely bullish as it manifests the possibilities of gaining 20% initially and 40% later. The asset since the beginning of February has turned twice from the lower support, thus forming a double bottom pattern. Being a bullish pattern, the asset is expected to rise to the neckline which is 20% distinct from the current levels. At the time of going to press, the asset is consolidating which is a little worrying because it is going through a decisive phase.
Therefore, to maintain the uptrend towards the neckline, Chiliz price needs to break the current minor consolidation. And that would be when the asset could rise above to reach the neckline at $0.00002422. However, the pivot zones reside 40% distinct from the neckline and huge upside momentum is needed to slice the neckline. Alternatively, if CHZ price tests these levels with less strength, huge pullback opportunities could hamper the rally.
Also Read: Chiliz (CHZ) Price Surge to $0.5 Imminent! Will NFTs start a bull run by the end of the first quarter?