Chiliz (CHZ) has broken a long-term descending trendline, indicating a shift from accumulation to bullish momentum. The cryptocurrency is holding above key support at $0.06, confirming the breakout's validity and suggesting an early upward trend. Resistance is expected between $0.065 and $0.067, which may guide short-term consolidation before targeting higher levels. The CHZ/USDT pair traded within a descending wedge throughout 2024–2025, characterized by lower highs and lows, reflecting seller dominance. The recent breakout, accompanied by increased momentum, marks a decisive shift. CHZ has gained over 70% recently, with immediate support around $0.06 reinforcing the breakout's strength. On the weekly chart, CHZ previously peaked near $0.167–$0.17 before a corrective phase. The current accumulation phase is supported by rising volume and a reclaim of key EMAs, indicating a transition to bullish control. The EMA 99 near $0.061 is a pivotal barrier, with price action suggesting potential for higher highs.
CHZ Breaks Long-Term Trendline, Signals Bullish Reversal
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