Fan token maker CHZ started the day with an increase of about 10 percent, reaching $0.2827.
CHZ, one of the strongest cryptocurrencies in the sports field, announced that it would launch new events and projects. The fan token maker has managed to attract the intense interest of investors waiting for the rally. They started planning events and establishing strong partnerships in every field where there is sports.
Why is CHZ Rising? CHZ Chart Analysis
With the work it has done, CHZ has become the crypto currency that football lovers are most interested in. Nowadays, due to the approach of the World Cup in football and the realization of the Nations League, fan tokens have also started to attract great attention.
Continuing its strong rise for the last week, CHZ managed to break the $0.25 resistance determined through graphical analysis with a 36 percent rise. With the buying-intensity volume that came with overcoming the resistance, it started the day in a bullish direction. Buying pressures are pushing it closer to the second resistance level at $0.335.
CHZ: Will There Be Downfall, When Will The Rise End?
CHZ, which is expected to continue the day in an uptrend, may decline if the $ 0.335 resistance is not exceeded. According to analysts, the RSI for the coin, which continues its rise without testing support levels, is extremely inflated.
It is claimed that CHZ can reach the $0.335 resistance as long as it can graphically meet the selling pressure. It is worth noting that the short support is $0.25 in case of a decline.
CoinMarketCap data confirms that the volume experienced on CHZ has increased by approximately 50 percent. In the crypto money market, its value has risen to over 5 percent, which allows it to be in the forefront. Data exporter CoinMarketCap noted the density of CHZ whales. With around 67 percent of the circulating supply, whales may be the main architects of the bull run. As it is known, every amount coming out of the circulating supply ensures that cryptocurrencies maintain price stability.
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