Chiliz Price Analysis for 2nd of September: CHZ/USD Appears to Be Consolidating Above the $0.1963414 Support

Original author: Azeez Mustapha

CHZ/USD may have started a ranging market as the price refuse to rise above the $0.2500000 resistance level. The 9-day moving average has caught up with the price actions. Also, the 21-day moving average is about to catch up with the price action. Currently, the 21-day moving average is touching the lower shadow of today’s candlestick. Once the two moving averages catch up with the price action, it will be a confirmation that the market is ranging.

Chiliz Market Price Statistic:

CHZ/USD price now: $0.22166917
CHZ /USD market cap: $1,331,755,982
CHZ /USD circulating supply:6 Billion
CHZ /USD total supply: 8,888,888,888
CHZ /USD coin market ranking: #40

Key Levels

Resistance: $0.23208761, $0.24370359, $0.25000000
Support: $0.19723968, $0.18651724, $0.18115602

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Chiliz Market Price Analysis: The Indicators Point of View

After the last price rebound that started on the 24th of August which brought the price down from the $0.25000000 resistance level, the market has remained in consolidation. Proportionate price pull from both the sellers and buyers have made the price balance around $0.2. In the Relative Strength Index, the RSI line has balanced at 57.98%. And the signal line has followed the RSI line (coming from the overbought zone) and it is currently at 61%. Although, according to the indicator, this market is in favour of the buyer because the price ranges above 50%. And that means that buyers are active in the market. A strong bullish move can still happen soon.

Chiliz Market Price Analysis: CHZ/USD 4-Hour Chart Outlook

In the third session, sellers take the market for the first time today. However, it doesn’t look like sellers will hold to this victory for so long. This is because buyers are reclaiming their ground in the market for this session. Also, for now, both of them appear to be evenly matched thereby making the price static.

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