Critical period in Chiliz (CHZ): Will the rise continue?

2024-03-01 00:45:00

Chiliz (CHZ), which has an important place in the Turkish crypto ecosystem, has reached an important resistance area with its recent rise.

Chiliz (CHZ), one of the stars of the 2021 Bull, reminded itself with its latest price movement. The popular coin, which has not been seen on the market for a while, rose by 11.20 percent in the last 24 hours and ranked fifth in the “Most Most Rising Crypto Coins” list. CHZ, which gives a bull signal with both the approach of EURO2024, an important football event, and the positive course of Bitcoin (BTC), may shake the sector again. What is the latest situation in the popular coin, which is currently trading in a difficult resistance area?

## Chiliz (CHZ) craze can begin with EURO2024!

2024 European Football Championship (EURO 2024) will start on June 18. EURO24, one of the big names of sports organizations, naturally brought Chiliz (CHZ) to mind. CHZ, which is the reflection of sports in the crypto industry, can achieve a good trend with this important development. Considering that the trend in the market is positive, upper levels can be targeted for the short/medium term price for CHZ.

CHZ, which dropped a needle to $ 0.16387 after BTC tested $ 64,500, has not yet overcome this resistance. Looking at the weekly chart, CHZ, which is in the decision stage, can climb to the upper levels if it settles above the $ 0.15260 - $ 0.16387 range. Factors such as the decline of BTC dominance or the beginning of EURO2024 excitement will be doping for CHZ. In such a scenario, a move to 0.19090 – 0.23206 – 0.29656 and 0.35224 dollars can be expected, respectively.

Factors such as EURO2024 not creating enough enthusiasm, BTC falling below $ 60,000 or the increase in BTC dominance will naturally create selling pressure on CHZ. In such a scenario, there may be declines up to 0.12420 – 0.08410 and 0.0600 dollars, respectively.

What is Chiliz (CHZ)?

Chiliz (CHZ), launched by Socios in 2018, is an ERC-20 token built on the Ethereum network. CHZ, which has blockchain-based tools, aims to enable its users to interact with entertainment and sports institutions and their audiences and earn money from them. In this way, it is aimed that the fans have a say in the decisions made in the team through the use of coins.

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