Chiliz (CHZ) is a blockchain platform that was established in 2018 to create connections between the world of cryptocurrency and mainstream sports and entertainment. Its purpose is to provide fan engagement and monetization services to sports organizations, with the ability to create their own branded tokens (also known as fan tokens) that are able to be traded on the Chiliz blockchain. These fan tokens allow fans to take part in activities such as voting, games and more. The platform boasts some of the biggest names in sports and entertainment as partners. Chiliz Chain 2.0 CEO is working to bring on more developers to help build the blockchain.

Currently, CHZ has a market capitalization of $823 million and a ranking of 60 in the cryptocurrency market. Notably, its volume of asset price has had a jump of 2% in the past intraday session. The volume to market cap ratio of CHZ implies a steady trend in its price.

The weekly technical analysis of CHZ suggests that its price is remaining relatively stable. On the daily chart, the value of CHZ is at $0.12, with a rise in the intraday session. An uptrend line has developed which could potentially lead to a new high. Resistance in CHZ can be seen at $0.18, while support sits at $0.1. It is also trading below its 50 and 100 day moving averages. Nevertheless, a bullish crossing could materialize shortly.

Using Relative Strength Index (RSI) to measure the asset price, its result suggests any presence of a neutral zone. Additionally, the chart has formed a weak upside trend which indicates a bullish momentum.

Finally, with analysts projecting bullish predictions for CHZ, this crypto asset is projected to have an upward trend. Its major support and resistance levels are $0.1 and $0.2, respectively. Nevertheless, investors should remember that investing in or trading cryptocurrency carries the risk of financial loss.



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