Chiliz Price Prediction: How High Will CHZ go?

Key Insights:

• CHZ is up by over 17% in the last 24 hours. 
• The token has been fluctuating between the $0.09-$1 price level since May this year. 
• The daily simple and exponential moving averages are giving buy signals.

CHZ, a token that enables sports fans to have unique experiences with their favourite teams, is up over 17% in the last 24 hours as the prices of major cryptos have generally risen.

In fact, CHZ has witnessed a 36% uptick in the span of just three days despite bottoming out at $0.099 on July 26.

CHZ is an ERC-20-compatible token that powers Socios.com – a platform that lets users trade tokens to show their support for professional sports teams. Once a fan purchases CHZ coins, they can use them to purchase Fan Tokens which makes them eligible for rewards and allows them influence team decisions by voting on the Chiliz blockchain.

Price Action

CHZ started its journey at $0.01206 on July 3, 2019. The token did not start gaining traction until early 2021 when the coin rose from $0.2184 on March 8 to $0.7276 by March 12 – an astonishing 233% spike.

Shortly thereafter, CHZ achieved its all-time high (ATH) price of $0.8915 on March 13, 2021. Despite retreating to a low of $0.3913 on March 25, the token regained momentum and reached the $0.5 price level five days later.

 

A strong correction followed and CHZ plummeted to as low as $0.2155 on May 23, before rising to the $0.4 level in September, followed by yet another rally to $0.5578 on November 12. This surge coincided with the company’s launch of in-game non-fungible tokens (NFT) in November. However, the Chiliz crypto ended up closing the year at $0.2902.

A partial recovery occurred in March this year when CHZ climbed from $0.2082 on March 22 to $0.2941 on March 29. Since May 2021, the coin has been fluctuating between the $0.09-$1 price level.

CHZ is currently trading at $0.149339 and ranks 57th in the list of cryptocurrencies worldwide by market capitalisation at $873 million. The token’s price has moved into overbought territory today.

 

Technical Indicators