Technical analysis by dzdennis about Symbol CHZ on 2/5/2024

Chiliz, whose popularity has increased with its agreements with sports teams, is a Layer 2 project that serves as a bridge for sports and entertainment fans and clubs in the crypto ecosystem. With the many fan coins it contains, fans and teams interact through their own websites. CHZ As of its current price, it has released all of its maximum supply of 8,888,888,888 units and the current market cap is It is around 900 million. Although the price has remained at the bottom for more than a year, it was during this period that it launched all its supplies. In general, there can be upward movements regarding the news of cooperation in sports (especially the investments made by Arabs in football and the possibility of coins to gain a share from them), and the biggest example of this is the football world championship held in 2022. Now, it may have caused dynamism in pricing before the European Football Championship, which will start in June 2024. The regions I marked with arrows show the date when the past rise started and the date of November 20, 2022, when the first match of the World Cup was played. As can be seen, there was an irreversible decline with the start of the first match... Considering that the upward trend started approximately 4 months ago, it is predicted that an upward trend may occur from February, which we are in, until June, which is the first match of the European Championship. When we look at Bitcoin pricing, CHZ coin was rising, bitcoin lost almost half of its value. Although CHZ has almost tripled its price. Currently, bitcoin is expected to increase in price for many reasons and if CHZ will start an upward trend in the same period as per our predictions It is very likely that we will get much more return from Bitcoin. If my predictions come true and the start of the stock market rally coincides with the same moment, passing $1 will not be a dream, and with a very optimistic forecast, I can say that we can see $5 in the long term. However, now I have realistically added the resistances on the chart; The 0.618 point, 42 cents, is our main target area. It will be easy to pass here with the increase in volume and sharp movements. In addition, the past rises seem to have occurred with the Golden Cross, and the intersection took place approximately in November 2023... If the rise matches the past activity, the rise must come from this month. It is useful to look at the past and take our place and wait for the rise for a while. IT IS DEFINITELY NOT INVESTMENT ADVICE!