Chiliz Is on the Verge of an Upside Breakthrough
Chiliz (CHZ) is trading flat at $0.0414, underperforming the broader crypto market where Bitcoin (BTC) is up by 0.5% to $94,670. Although CHZ’s recent performance may appear lacklustre, the overall crypto sector, led by Bitcoin, is showing signs of renewed strength. Bitcoin is attempting to break free from the sticky $90,000–92,000 support range, aiming for long-term targets in the $150,000–200,000 zone, which could lift the broader market, including CHZ.
Chiliz is currently positioned at the edge of breaking out of its descending channel. A successful move higher could quickly push prices towards $0.0500. Additional support comes from positive developments around CEO Alexandre Dreyfus’s discussions with the SEC about re-entering the premium U.S. market. Successful talks would likely inject fresh optimism into the project and boost CHZ’s price momentum.
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