Chili (CHZ) Has to Cross Key Hurdles Before Reaching New Highs

6 Dis 2023

Since mid-October 2023, CHZ has registered a growth of 52%, yet it still has to climb an additional 110% to reach its annual high. This gap indicates room for further growth of the token. Currently, CHZ is nearing a resistance zone at $0.082-$0.086, which is the key hurdle before it can set new local highs.

For CHZ buyers, the forthcoming resistance levels to watch are $0.090 and $0.095. Chiliz's growth rate might increase after the price securely surpasses the $0.1 level, as there are no significant barriers beyond this point, given the asset's price hasn't been this high for a long time.

If CHZ undergoes a correction, its price could test the support zones at $0.075-$0.077, $0.0715-$0.073, $0.067, and $0.063. However, a potential decline in CHZ could be linked to a downturn in Bitcoin. Thus, due to the strong correlation between CHZ and BTC, it's recommended to first examine the Bitcoin chart before making any decisions.