Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip

2023-4-10 14:56

Chiliz price drifted sideways on Monday as the price of key fan token dropped sharply. The CHZ token was trading at $0.1297, where it has been in the past few days. This price is about 37% above the lowest level this year and ~26% above March’s low.

Fan token prices retreat

Chiliz is a leading platform in the blockchain industry. It is a unique platform in the entertainment and sports industry. Its primary platform is known as Socios, which helps people trade fan tokens of some of the biggest teams in the world.

Chiliz also provides a smart contract platform that makes it possible for teams to build fan tokens.Today, data compiled by Fan Market Cap shows that there are 82 fan tokens that have a combined market cap of more than $382 million.

In most periods, Chiliz tends to do well when fan tokens are rising. In the past few days, some fan tokens have done well, with OG’s token jumping by over 257%. Other top fan tokens like Manchester City and Alpine have risen by 16% and 51%, respectively in the past 7 days.

However, most of these tokens are some of the worst performers in the past 24 hours. OG price has dropped by 20% in the past 24 hours while Alpine, Arsenal, Inter Milan, and Atletico Madrid have dropped by double-digits in the same period. 

Another reason why the CHZ price is struggling is that the overall volume has dropped in the past few days. The token’s volume jumped to a high of 319.85 million on April 8, the highest level since February 22. This volume has dropped to ~83 million on Monday. 

Chiliz price prediction

So, is it worth it buy Chiliz? The daily chart shows that the CHZ price has been in a tight range in the past few days. This price is consolidating at the 50-day and 25-day moving averages. It has moved above the ascending trendline that connects the lowest level since June last year. The Relative Strength Index (RSI) has moved below the key level at 60.

Therefore, the token will likely remain in this range for a while and then retest the ascending trendline at $0.10. A move above the key resistance at $0.1432 will invalidate the bearish view.

How to buy Chiliz

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy CHZ with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy CHZ with Coinbase today Disclaimer

The post Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip appeared first on CoinJournal.

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