CHZ Price Analysis: Indecision Awaits Breakout Above Downtrend Lows

By Tomiwabold Olajide10 days ago

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Chiliz (CHZ) price has been trading in a descending trend line since mid-March. Indecision awaits breakout above downtrend lows of $0.3648

*Chiliz made the move lower to $0.3648

*CHZ/USD pair may extend consolidation

*Jump Trading invests in sports fan token ecosystem Chiliz

Bears paused momentarily on CHZ/USD with long-legged Doji left on Wednesday, signaling indecision. Chiliz made the move lower to $0.3648 before a rebound to highs of $0.51. Bulls touched the barrier at $0.51 coinciding with descending trendline resistance, causing the recovery to be so far limited and lacking momentum to extend. The CHZ/USD pair may extend consolidation while awaiting a fundamental catalyst to drive it from the lackluster decline since March 12. Whether the recent investment from Jump Trading in the Chiliz ecosystem will drive up the price is yet to be seen.

Jump Trading Invests in Sports Fan Token Ecosystem Chiliz

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