CHZ $0.3 level, TAMA exchange details soon

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As the bulls are keen to push the coin to the upper border of the channel, Chile’s price forecast can maintain its position.

Chiles forecast statistical data:

  • Chile price now – $0.24
  • Chile market value – 1.45 billion dollars
  • Delivery of chilies – 6 billion
  • Total supply of chilies – 8.8 billion
  • Chiliz Coinmarketcap Rank – #37

CHZ/USD market

Key steps:

Resistance levels: $0.32, $0.34, $0.36

Support levels: $0.18, $0.16, $0.14

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CHZ/USD will take a much needed break on the positive side as the market opens today. Chiles price is currently posting a gain of more than 5.62% in the chart, and the coin is about to cross the upper boundary of the channel at $0.30.

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After a slight decline to the 9-day and 21-day moving averages, the price of chilies is back in the middle of the consolidation. In the meantime, if the market price continues to rise and move to the upper border of the channel, the $0.25 resistance level may be in play and if the bulls show determination, the price of chilies may seek higher price levels.

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At the time of writing, the market is showing signs of buying with lower price action. If the price of chiles decides to remain under bearish control, the price may return to previous supports at $0.18, $0.16 and $0.14 above the moving average. But on the upside, traders can expect the next resistance levels at $0.32, $0.34 and $0.36. In addition, the relative strength indicator of the technical indicator (14) is moving above the 60-level, which indicates that a bullish movement may be played.

On Bitcoin, the price of Chiles is seen rising above the 9-day and 21-day moving averages to reach near resistance at 1400 SAT. As long as the coin does not cross above the upper boundary of the channel and the price ends up closing above it, there may be no reason to expect a long-term bullish reversal.

CHZBTC – Daily Chart

On the contrary, a slide below the moving average could renew lows below 1000 SAT, and a bullish continuation could meet critical support at 970 SAT and below, while buyers could push the coin towards resistance levels of 1600 SAT and above. The technical indicator Relative Strength Index (14) crosses into the overbought region, indicating further signs of bullishness.

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