- Chiliz (CHZ) surged nearly 36% in the past week, showing resilience amid broader market volatility.
- Despite a slight dip, CHZ shows strong upward momentum, with analysts predicting a potential 300% upside to $0.50.
Chiliz (CHZ) has been demonstrating impressive resilience, holding strong despite the turbulence in the broader cryptocurrency market. Over the past week, the token has surged by nearly 36%, showing a positive trend even as other cryptocurrencies, including Bitcoin, experienced significant volatility.
As of now, Chiliz is trading at $0.128892, with a 24-hour trading volume of $538.03 million and a market capitalization of $1.15 billion. While CHZ has seen a slight dip of -5.28% in the last 24 hours, its recent performance paints a picture of stability in the midst of uncertain market conditions.
The cryptocurrency market has been in a state of flux, with Bitcoin experiencing a dramatic plunge to $90,000 overnight. This drop triggered a massive liquidation event, with over $427 million in long positions being liquidated in just one hour. In the past 24 hours alone, nearly $893 million worth of positions were liquidated, setting a new yearly record.
However, Bitcoin has since recovered, with its price now fluctuating between $97,000 and $98,000. Despite these significant shifts, Chiliz has managed to stay stable, hinting at a potential upward movement.
Chiliz Poised for 300% Upside Surge
Crypto expert Javon Marks has noted that Chiliz is showing strong upward momentum and could be on the brink of a major price move. According to his analysis, CHZ is currently in a consolidating pattern, suggesting that its price could soon break through into the $0.50 range, marking a potential upside of more than 300%. This could result in a significant rally, potentially pushing the price of Chiliz even higher as the token gains traction.
With its recent performance and a clear bullish pattern in its price action, Chiliz could be on the verge of a substantial move, positioning itself as a strong contender in the cryptocurrency market. Investors are closely watching its next steps, as CHZ shows signs of preparing for what could be a major upside breakout.
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