What to know:
- CHZ holds a breakout structure with higher lows and moves above key moving averages, indicating a reversal.
- Analysts highlight a potential $0.40 target for CHZ, representing major upside if momentum continues.
- Technical indicators support bullish sentiment, with RSI above 66 and MACD showing positive divergence favoring buyers.
Chiliz (CHZ) is moving in a positive price trajectory as the general conditions in the crypto market are turning from bearish to bullish. According to CoinMarketCap, as of Sunday, April 26, the CHZ price has surged by 4.56% over the last 24 hours and 26.51% over the last week.
At the time of writing, ATOM is trading at $0.05141, with a trading volume of $52.52 million, which has declined by 22.49% over the last 24 hours. However, its market capitalization stands at $531.73 million, which is up by 4.47%.
Source: CoinMarketCap
Also Read: Chiliz (CHZ) Bullish Breakout Signals Potential Rally Toward $0.064 Target
CHZ Targets $0.40 After Powerful Breakout Rally
Furthermore, the crypto analyst Javon Marks highlighted that CHZ has started a strong breakout process after climbing nearly 45%, showing clear bullish momentum and growing market confidence.
Instead of facing a sharp pullback, the price is holding its strength, which suggests buyers remain active, and the breakout structure is becoming more reliable for traders watching closely.
Source: Javon Marks’ X Post
Given that this breakout is still intact, the token may be setting itself up for an even bigger move into the $0.40 area.
This will provide a huge upside move of over 730%. Increased volume and sustained support will be the two most important factors to look out for before a new rally can be confirmed.
Technical Indicators Reinforce Bullish Momentum
According to TradingView, CHZ forms a pattern of higher lows. The recent price action shows that CHZ is trading above its main moving average ribbon, with an approximate price of $0.0499.
There is a structural change in the market trend from bearish to bullish, given that the token’s current price is testing the resistance level formed previously at $0.0550.
Source: TradingView
The technical indicators reinforce the bullish trend as well. The RSI is now at 66.64 and suggests strong buyer interest because the indicator is approaching the overbought area at 70.00.
Moreover, there is a bullish divergence on the MACD, as the MACD line is significantly higher than the signal line and the histogram consistently shows positive growth. Overall, despite the asset being close to a high-strength area, the buyers remain in control.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Chiliz (CHZ) Bullish Structure Points to Potential Move Toward $0.06
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