Chiliz, the fan engagement platform, rose to all-time highs in the first quarter of 2021. With the wave of NFT going on in the crypto markets ushered in by the headlines of Everydays: The first 5000 days being sold out for a whopping $69 million and Jack Dorsey converting his first tweet into an NFT brought the NFT ecosystem into prominence.
Chiliz too witnessed enormous momentum in the first quarter of 2021, it went on a meteoric rise and witnessed 47x appreciation in its asset price thereby hitting a high of ~$0.94 on March 12. Since then, it has retraced by 78.6% of the prior single-shot bull move as per the Fibonacci levels.
On the Daily Time Frame, Chiliz is currently trading below its 50 and 100 DEMA that signals the control of bears on its tokens. The support to the lower side is present at $0.18 while it may face resistance at the levels of $0.33 due to the presence of 50 and 100 DEMA.
In the near future, it may face difficulty in its journey towards its highs. However, Chiliz as a platform holds value and it may be accumulated with a long-term investment horizon.
Chiliz too witnessed enormous momentum in the first quarter of 2021, it went on a meteoric rise and witnessed 47x appreciation in its asset price thereby hitting a high of ~$0.94 on March 12. Since then, it has retraced by 78.6% of the prior single-shot bull move as per the Fibonacci levels.
On the Daily Time Frame, Chiliz is currently trading below its 50 and 100 DEMA that signals the control of bears on its tokens. The support to the lower side is present at $0.18 while it may face resistance at the levels of $0.33 due to the presence of 50 and 100 DEMA.
In the near future, it may face difficulty in its journey towards its highs. However, Chiliz as a platform holds value and it may be accumulated with a long-term investment horizon.