Chiliz had a massive run-up this year.
Despite the fundamental improvements on the project the price-action is still consolidating.
The current Support zone is already tapped multiple times and below this support is clearly an inefficiency.
The current trend in the overall crypto market is downwards oriented.
Same structure on the BTC pair, but even more pronounced
Sideways price action and further consolidation is needed so the downward trend can be broken before the uptrend resumes.
In summary:
Can we both a good short opportunity if the red support is flipped and a long opportunity if these lower price levels are reached.
Despite the fundamental improvements on the project the price-action is still consolidating.
The current Support zone is already tapped multiple times and below this support is clearly an inefficiency.
The current trend in the overall crypto market is downwards oriented.
Same structure on the BTC pair, but even more pronounced
Sideways price action and further consolidation is needed so the downward trend can be broken before the uptrend resumes.
In summary:
Can we both a good short opportunity if the red support is flipped and a long opportunity if these lower price levels are reached.