Chiliz Price Prediction 2021 – Will CHZ Hit $1 Soon?

Chiliz Price Prediction 2021 - Will CHZ Hit $1 Soon?
  • Bullish CHZ price prediction ranges from $0.39 to $0.94.
  • CHZ price might also reach $1 soon.
  • CHZ bearish market price prediction for 2021 is $0.06.

In Chiliz (CHZ) price prediction 2021, we use statistics, price patterns, ADX, and much other information about CHZ to analyze the future movement of the cryptocurrency. 

Chiliz is the currency of choice for blockchain-backed products and services for mainstream consumers. Chiliz provides sports organizations and blockchain-based tools to help them participate and monetize their audience. CHZ tokens can also be used to purchase/exchange Fan tokens through the consumer-oriented platform Socios.com.

According to CoinGecko, the CHZ price is trading at $0.24 with a 24-hour trading volume of $506,462,879, at the time of writing. However, CHZ has decreased by 8.3% in the last 24 hours.

Moreover, CHZ has a circulating supply of 5,344,064,580 CHZ. Currently, CHZ trades in cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Huobi Global, and FTX.

Chiliz (CHZ) Price Prediction 2021

Chiliz (CHZ) holds the 64th position on CoinGecko right now. CHZ price prediction 2021 explained below with a daily time frame.

CHZ/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Bullish Flag patterns. This pattern forms after a price spike that peeks out and slowly forms a short-term downtrend reversal. The starting point of the trendline must connect the highest high (uptrend line) and the highest low (downtrend line) to represent the flag portion. 

Although the lines slope downward, they should remain relatively parallel. Eventually, the price must rise to cross the top trend line, causing bears to hedge and buyers to cross the fence. When the price crosses the highest point, as buyers move towards new highs, the next segment of the uptrend continues and a bullish flag is formed.

Currently, CHZ is waving at $0.25. After this, CHZ may continue to fall or rise according to the breakout. With this pattern, CHZ will violate the upper trendline reaching $0.94 soon. If the trend reverses, then the price of CHZ may fall to $0.16.

Chiliz Support and Resistance Level

The below chart shows the support and resistance level of CHZ.

CHZ/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frames, it is clear the following are the resistance and support level of CHZ.

  • Resistance Level 1 – $0.39
  • Resistance Level 2 – $1.04
  • Support Level 1 – $0.15
  • Support Level 2 – $0.06

The charts show that CHZ has performed a bullish trend over the past month. If this trend continues, CHZ might run along with the bulls overtaking its resistance level at $1.04.

Conversely, if the investors turn against the crypto, the price of CHZ might plummet to almost $0.06, a bearish signal.

Chiliz (CHZ) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of CHZ. Generally, ADX helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is beginning. However, it is linked with the Directional Movement Index (DMI). 

Moreover, the range of oscillators is from 0 to 100. In addition, a high value indicates a strong trend, while a low value represents a weak trend. It is also often used in combination with direction indicators.

CHZ/USDT ADX(Source: TradingView)

The above chart shows the ADX of CHZ stays above the range of 8.19, so it indicates a sideways trend.

Conclusion

The CHZ is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term CHZ price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.87 this year. However, this will only happen if CHZ breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the CHZ ecosystem, it could experience a great future ahead in 2021. It may reach $0.94 soon and it might even reach high heights, however reaching $1, if investors have planned that CHZ is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.