Chiliz price prediction for today, March 1st

Chiliz price prediction shows CHZ moving to the upside as a bullish crossover above the $0.167 price mark is expected.

Chiliz (CHZ) Chain Unveils Tokenomics 2.0: Introducing Inflation Model and Burn Mechanism

Chiliz Chain is releasing Tokenomics 2.0 to enhance utility with an 8.80% base rate and token burn mechanism, ensure blockchain sustainability, and target a minimum annual return of 5.72% APY. In a recent announcement, Chiliz Chain, a leading sports and entertainment blockchain protocol, introduced Tokenomics 2.0. Coinciding with the end of the blockchain’s first year, this update brings notable changes to the economic framework of the native digital currency, $CHZ.

Chiliz Forecast Statistical Data:

• Current Chiliz price – $0.159
• Chiliz market cap – $1.4 billion
• Chiliz distribution volume – 8.8 billion
• Chiliz total supply – 8.8 billion
• Chiliz CoinMarketCap Ranking – 67th

CHZ/USD market

Main level:

Resistance levels: $0.180, $0.185, $0.190

Support levels: $0.120, $0.115, $0.110

CHZ/USD is trading at $0.159 after hitting an intraday high of $0.167 during European trading today. Looking at the daily chart, Chiliz price is hovering above its 9-day and 21-day moving averages after starting trading today at $0.142.

Chiliz Price Prediction: CHZ Price Heads Upward

Over the past few days, Chiliz prices have been strong within the channel. However, CHZ/USD is currently trading at the $0.159 level. In the meantime, Chiliz price may cross the channel upper limit and touch the nearest resistance at $0.170.

Nonetheless, Chiliz price may continue to strengthen if it crosses the channel upwards and the price may locate resistance at $0.180, $0.185, and $0.190, respectively. Meanwhile, if the technical indicators decide to quickly turn south, there could be a bearish move towards the lower boundary of the channel, which could push the market down to support levels of $0.120, $0.115, and $0.110. However, the 9-day moving average remains above the 21-day moving average and is heading north.

CHZ/BTC is going strong

Compared to Bitcoin, Chiliz price continues to rise after hitting a daily high of 273 SAT. However, CHZ/BTC is currently trading at 254 SAT and is heading towards the resistance level of 280 SAT, with the next major resistance likely being above 310 SAT.

On the downside, a bearish move is likely below the 9-day and 21-day moving averages and could visit support levels below 195 SAT. Meanwhile, the market is strong today. This is because the 9-day moving average continues to hover above the 21-day moving average, suggesting more bullish signals.

@Toms_zapato shared insights with his X (formerly Twitter) followers on $CHZUSDT 1D (an important area for traders). “Hello, friends! I trust you all are doing great. Take a look at the $CHZ currency chart on daily time frames. It has recently broken out of a long-term downward channel and is currently trending within an upward channel. this is…

$Chhz usdt 1D (trader’s sensitive area) – #CHZUSDT

Hello friends, I hope you are doing well. $chz The currency chart on the daily time frame has broken out of a long-term downward channel and is in an upward channel.$CHZhttps://t.co/pibEmF0YpJ

— Tomzp (@Toms_zapato) March 1, 2024

Alternative to Chiliz

Chiliz price is preparing for a bullish breakout with potential resistance indicated by the 9-day moving average (MA) above the 1-day moving average (MA). Despite Chiliz having a respectable market capitalization of $1.4 billion and ranking 64th in the cryptocurrency world, its importance may be overshadowed by its size. Conversely, the Bitcoin Minetrix token has already garnered approximately $11.7 million in pre-sales, making it an attractive investment opportunity. Now is a great time to consider investing in this promising asset.

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