Chiliz (CHZ) has risen by 5% in the past 24 hours, nearing the $0.05 resistance level, as derivatives data suggests a bullish trend. The cryptocurrency is currently trading at $0.049, outperforming the broader market. CoinGlass data reveals that Chiliz's futures Open Interest (OI) has surged to $80 million, the highest since January, indicating increased bullish positions. Additionally, Chiliz's funding rates turned positive, reaching 0.0043%, further confirming bullish market control.
The CHZ/USD 4-hour chart shows a bullish trend, with momentum indicators suggesting potential for further gains. The Relative Strength Index (RSI) at 58 and a positive MACD line indicate room for growth. If the bullish momentum continues, CHZ could face resistance at $0.051, with potential targets at $0.057 and $0.064. However, if sellers regain control, support levels are expected at $0.047, $0.043, and $0.041.
Chiliz Surges 5% as Derivatives Data Signals Bullish Momentum
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.