Chiliz (CHZ) is gaining attention as market indicators suggest a potential bullish surge on Tuesday, March 3. According to the crypto analyst Clifton Fx, after a period of consolidation, buying pressure is rising, hinting that CHZ could soon challenge critical resistance levels.
Clifton Fx notes that technical signals, including volume spikes and support trends, point toward a possible price rally, drawing renewed investor interest in the token.
Source: Clifton Fx X Post
The $0.054 level is emerging as a key threshold for CHZ, with traders anticipating a breakout. Momentum indicators and relative strength trends suggest the market is aligning for upward movement.
While volatility remains a factor, crypto enthusiasts are optimistic that CHZ’s current setup could spark a significant bullish run, potentially attracting fresh market participants.
Also Read: Chiliz (CHZ) Eyes $0.05 Upside After Testing Strong $0.03 Support
CHZ Technicals Point to Consolidation to Bullish Momentum
According to TradingView, as of Tuesday, March 3, CHZ shows a transition from a bearish phase to a consolidation floor near $0.0340.
Throughout late February, the price remained suppressed by the Ichimoku Cloud and long-term EMAs, marking consistent lower highs. This period of high selling pressure eventually exhausted, allowing the asset to stabilize as it moved sideways.
Source: TradingView
Recently, Chiliz has started a bullish breakout pattern by moving above the 20 EMA, 50 EMA, and 100 EMA levels. The crossing of the conversion line above the baseline indicates the presence of increased momentum.
However, the price is currently facing resistance at the $0.0389 level (200 EMA). It is essential for the price to close above the blue line.
Momentum Indicators Point to a Recovery Phase
The RSI is at 59.88, which is below the overbought level of 70 and is rising. This is because the RSI is above the 14-period moving average, which is currently at 54.27.
This is a sign that buyers are gaining more power, but the asset is not yet overbought, indicating that there is more room for movement.
Source: TradingView
This bullish trend is also supported by the MACD. As the MACD line is above the signal line and both are above zero, this indicates a bullish trend. The expanding green histogram also indicates a rise in buying pressures.
Thus, the bullish trend is also supported by the RSI. However, traders need to be cautious with the RSI as it is approaching a higher level.
Also Read: Chiliz (CHZ) Shows Early Signs of Macro Accumulation With $0.94 in SIght