Chiliz (CHZ) Price Prediction 2023 – Will CHZ Hit $1 Soon?
- Bullish CHZ price prediction for 2023 is $0.1324 to $0.1629.
- Chiliz (CHZ) price might reach $1 soon.
- Bearish CHZ price prediction for 2023 is $0.0972.
In Chiliz (CHZ) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about CHZ to analyze the future movement of the cryptocurrency.
Chiliz (CHZ) Current Market Status
Current Price
$0.1326
24 – Hour Trading Volume
$119,723,604
24 – Hour Price Change
2.87% up
Circulating Supply
6,788,674,440
All – Time High
$0.8915 (On Mar 13, 2021)
What is Chiliz (CHZ)?
Chiliz (CHZ) is the currency of choice for blockchain-backed products and services for mainstream consumers. Also, Chiliz provides sports organizations and blockchain-based tools to help them participate and monetize their audience. CHZ tokens can also be used to purchase or exchange Fan tokens through the consumer-oriented platform Socios.com.
Chiliz (CHZ) Price Prediction 2023
Chiliz (CHZ) ranks 58th on CoinMarketCap in terms of its market capitalization. The overview of the Chiliz price prediction for 2023 is explained below with a daily time frame.
CHZ/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Chiliz (CHZ) laid out a descending channel pattern, also known as the falling channel. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Chiliz (CHZ) was recorded at $0.1326. If the pattern trend continues, then the price of CHZ might reach the resistance levels of $0.2913, $0.5599 and $0.9002. If the trend reverses, then the price of CHZ may fall to the support of $0.0856.
Chiliz (CHZ) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Chiliz (CHZ) in 2023.
CHZ/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of Chiliz (CHZ) for 2023.
| Resistance Level 1 | $0.1324 |
| Resistance Level 2 | $0.1629 |
| Support Level 1 | $0.1140 |
| Support Level 2 | $0.0972 |
As per the above analysis, if Chiliz’s (CHZ) bulls take the lead, then it might hit and break through its resistance level of $0.1629.
Conversely, if Chiliz’s (CHZ) bears dominate the trend, the price of CHZ might plunge to $0.0972.
Chiliz (CHZ) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Chiliz (CHZ) are shown in the chart below.
CHZ/USDT RVOL, MA, RSI (Source: TradingView)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Chiliz (CHZ) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the CHZ price lies above 50 MA (short-term), indicating its uptrend. Hence, CHZ is in a bullish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of CHZ is at 56.48. Therefore, this indicates CHZ is nearly in an overbought state. Also, this confirms that CHZ sends out a buy signal.
Chiliz (CHZ) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Chiliz (CHZ) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
CHZ/USDT ADX, RVI (Source: TradingView)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of CHZ lies in the range of 18.7835 pointing out a weak trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of CHZ lies above 50, indicating high volatility.
Comparison of CHZ with BTC, ETH
Let us now compare the price movements of Chiliz (CHZ) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs CHZ Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of CHZ is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of CHZ also increases or decreases respectively.
Chiliz (CHZ) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Chiliz (CHZ) between 2024 and 2030.
Chiliz (CHZ) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Chiliz (CHZ) might successfully test and surpass its resistance levels to hit $4 by 2024.
Chiliz (CHZ) Price Prediction 2025
The significant upgrades in the Chiliz ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Chiliz (CHZ) price to reach $5 by 2025.
Chiliz (CHZ) Price Prediction 2026
If Chiliz (CHZ) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $9.
Chiliz (CHZ) Price Prediction 2027
If Chiliz (CHZ) sustains major resistance levels and stands as a better investment option in the market, then CHZ would rally to hit $11.
Chiliz (CHZ) Price Prediction 2028
If Chiliz (CHZ) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then CHZ would hit $14 by 2028.
Chiliz (CHZ) Price Prediction 2029
If investors flock in and continue to place their bets on Chiliz (CHZ), then the crypto would witness major spikes. Hence, CHZ might hit $17 by 2029.
Chiliz (CHZ) Price Prediction 2030
By 2030, the CHZ price might rally to $20 if the trend momentum aligns in favor of Chiliz. Furthermore, CHZ would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If Chiliz (CHZ) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Chiliz (CHZ) price prediction for 2023 is $0.1629. Comparatively, the bearish Chiliz (CHZ) price prediction for 2023 is $0.0972.
If there is a positive elevation in the market momentum and investors’ sentiment, then Chiliz (CHZ) might hit $1. Furthermore, with future upgrades and advancements in the Chiliz ecosystem, CHZ might surpass its current all-time high (ATH) of $0.8915 and mark its new ATH.
FAQ
1. What is Chiliz (CHZ)?
Chiliz is the currency of choice for blockchain-backed products and services for mainstream consumers.
2. Where can you buy Chiliz (CHZ)?
Traders can trade Chiliz (CHZ) on the following cryptocurrency exchanges such as Binance, Deepcoin, Bybit, Bitrue, and CoinW.
3. Will Chiliz (CHZ) record a new ATH soon?
With the ongoing developments and upgrades within the Chiliz platform, Chiliz (CHZ) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Chiliz (CHZ)?
Chiliz (CHZ) hit its current all-time high (ATH) of $25.01 on Apr 30, 2021.
5. What is the lowest price of Chiliz (CHZ)?
According to CoinMarketCap, CHZ hit its all-time low (ATL) of $0.6557 on Nov 03, 2020.
6. Will Chiliz (CHZ) hit $1?
If Chiliz (CHZ) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon.
7. What will be the Chiliz (CHZ) price by 2024?
Chiliz (CHZ) price might reach $4 by 2024.
8. What will be the Chiliz (CHZ) price by 2025?
Chiliz (CHZ) price might reach $5 by 2025.
9. What will be the Chiliz (CHZ) price by 2026?
Chiliz (CHZ) price might reach $9 by 2026.
10. What will be the Chiliz (CHZ) price by 2027?
Chiliz (CHZ) price might reach $11 by 2027.
Top Crypto Predictions
- Ethereum (ETH) Price Prediction 2023
- Shiba Inu (SHIB) Price Prediction 2023
- Bitcoin (BTC) Price Prediction 2023
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/chiliz-chz-price-prediction/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
