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CHZ/USDT Weekly Technical Analysis

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1. Overall Trend
CHZ remains in a long-term downtrend, as shown by the descending trendline from its 2021 highs.

However, price is now consolidating near a long-term support zone around $0.045–$0.05, signaling a potential reversal zone.

Price is approaching a key confluence area: the downtrend line + bottom of the Ichimoku Cloud.

2. Ichimoku Cloud
Price is still below the cloud, indicating bearish momentum.

But the cloud is thin, and there’s a potential “Kumo Twist” ahead — a favorable condition for a trend reversal.

A successful breakout above the cloud would signal a strong bullish shift.

3. MACD (Moving Average Convergence Divergence)
MACD line is slightly below the signal line, but both are near the zero level.

A bullish crossover may be forming, indicating potential upward momentum.

Histogram is nearly neutral, showing weakening bearish pressure.

4. RSI (Relative Strength Index)
RSI is around 36.89, below the 50-neutral line, suggesting bearish bias.

However, there’s a small upward slope — a sign of possible reversal.

RSI crossing above 50 would confirm strength in buying momentum.

5. Volume
Volume has been declining over time, indicating accumulation.

A strong breakout will require a significant volume surge.

6. Chart Pattern
CHZ seems to be forming a falling wedge or a compression zone, typical of accumulation before breakout.

A breakout above $0.07 would confirm this pattern.

7. Upside Target
If CHZ breaks out, the chart suggests a long-term target near the 0.786 Fibonacci retracement level (~$0.39).

This represents a potential +900% move from current levels.

Penafian

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