The CHZ/USDT technical outlook shows that the long-standing descending trend structure is still valid, while recent price movements highlight a squeeze within the established horizontal accumulation zone. Especially the area marked by the green box stands out as a region where the balance between buyers and sellers is concentrated in the short term.
The 0.0519 level acts as an important short-term resistance, and any high-volume closures above this zone could push the price towards upper resistance areas. In upward movements, the 0.086 and 0.154 levels remain significant major resistances.
In a downward scenario, as long as the current horizontal structure is not lost, the likelihood of the price continuing its search for recovery remains on the table.
Note: During the severe manipulation process on October 10, it was observed that many coins filled the wick areas left behind, while the structure on the CHZ side appears to be incomplete. Therefore, it is crucial to consider this risk factor when taking positions and to evaluate price movements accordingly. #altcoins #CHZ #chiliz #crypto
The 0.0519 level acts as an important short-term resistance, and any high-volume closures above this zone could push the price towards upper resistance areas. In upward movements, the 0.086 and 0.154 levels remain significant major resistances.
In a downward scenario, as long as the current horizontal structure is not lost, the likelihood of the price continuing its search for recovery remains on the table.
Note: During the severe manipulation process on October 10, it was observed that many coins filled the wick areas left behind, while the structure on the CHZ side appears to be incomplete. Therefore, it is crucial to consider this risk factor when taking positions and to evaluate price movements accordingly. #altcoins #CHZ #chiliz #crypto