Symmetrical triangle:
on the daily time frame chart the price action of Chiliz was moving in a symmetrical triangle since the mid of May 2021. Now finally, the price action has broken out to resistance of the symmetrical triangle and moving sideways. Now there is a possibility that the priceline may re-test the previous resistance of this triangle as support.
Falling wedge:
While the price action has broken out the resistance of a symmetrical triangle on the daily timeframe, at the same time the priceline has also formed a falling wedge pattern on a very small time frame hourly chart. This falling wedge is considered as a bullish reversal pattern among the trader's community. Therefore if the price action of CHZ will break out the resistance of the wedge then it can imminently move to the tail of this wedge pattern which is at $0.275 cents.
Weekly EMAs:
On the weekly time frame chart, the price action is trying to break out exponential moving averages with the time period of 10 and 21. In the below chart it can be seen that after the recent drop the price action tested $0.18 support and then broke out the $0.235 resistance level. Now it is working as very strong support for the price action. If the price will be able to break out exponential moving average 21 then it can lead to a really very big move.
Huge BAT move:
On the weekly time frame the priceline has formed a huge BAT pattern. The sell targets for this BAT as per Fibonacci sequence can be $0.4337 to $0.7678.
on the daily time frame chart the price action of Chiliz was moving in a symmetrical triangle since the mid of May 2021. Now finally, the price action has broken out to resistance of the symmetrical triangle and moving sideways. Now there is a possibility that the priceline may re-test the previous resistance of this triangle as support.
Falling wedge:
While the price action has broken out the resistance of a symmetrical triangle on the daily timeframe, at the same time the priceline has also formed a falling wedge pattern on a very small time frame hourly chart. This falling wedge is considered as a bullish reversal pattern among the trader's community. Therefore if the price action of CHZ will break out the resistance of the wedge then it can imminently move to the tail of this wedge pattern which is at $0.275 cents.
Weekly EMAs:
On the weekly time frame chart, the price action is trying to break out exponential moving averages with the time period of 10 and 21. In the below chart it can be seen that after the recent drop the price action tested $0.18 support and then broke out the $0.235 resistance level. Now it is working as very strong support for the price action. If the price will be able to break out exponential moving average 21 then it can lead to a really very big move.
Huge BAT move:
On the weekly time frame the priceline has formed a huge BAT pattern. The sell targets for this BAT as per Fibonacci sequence can be $0.4337 to $0.7678.
