⚽️ Chiliz is Chilling as the World Cup Approaches!

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📌 As the World Cup 2022 gets closer, many coins / tokens will get more exposure in a way or another.

CHZ is one of these projects. As you noticed, CHZ has been standing strong for the last couple of weeks unlike many altcoins.

🗒 Why CHZ ?:

CHZ is an ERC-20 token that runs on an Ethereum-based Chiliz blockchain. The token serves as currency that allows users to purchase NFTs at Chiliz' Socios fan token marketplace. There would be no CHZ token without Socios.

ChiliZ token ( CHZ ) is the official, exclusive utility token that operates on the fan voting portal. Using this platform, sports and e-sports enthusiasts can participate in the management process of their favorite teams, leagues, games, and events.

📉 Technical Analysis:

CHZ has been stuck inside a big range in the shape of an inverse head and shoulders pattern.

For the bulls to take over from a long-term perspective, we need a weekly candle close above the gray neckline (around 0.3) which is also a support and resistance zone.

Meanwhile, as we approach the green support again, I will be looking for short-term buy setups.

What do you think? Will CHZ be used more during the World Cup? and will it affect its price / value?

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL


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