CHZ, the native token of fan token issuer Chiliz, started to move upwards with the approach of the World Cup.
With the approach of the World Cup, fan tokens continue to attract the attention of investors. Two of the world’s greatest footballers Cristiano Ronaldo and Lionel Messi teams have experienced an increase of close to 30% in the last 7 days.
While the Portuguese National Team’s fan token (POR) increased by 36%, the Argentina National Team’s fan token (ARG) 30% increase showed. In addition, the local token of Chiliz, the issuer of these tokens, CHZ, has been in the last 7-day period. more than 22% showed an upward performance.
Chiliz Technical Analysis
Staying above its 200-day moving average, CHZ seems to have reached the resistance zone. If it exceeds these levels, the CHZ 0.41 and 0.55 dollar levels are expected.
Famous Analyst Peter Brandt also made the following statements by referring to the Inverted Shoulder-Head-Shoulder (TOBO) appearance that appears in Chiliz’s chart:
Classic patterns are not valid in the cryptocurrency market. However, a classic pattern can still be “magic” in this case.
The target of the TOBO formation in case of operation is $0.48 are levels.
Also in case CHZ reacts from the resistance zone Down to 200-day average is likely to survive.
