Necessary factors

• CHZ has risen 7% prior to now 24 hours and is at present buying and selling above $0.053.
• If the bullish pattern continues, the cryptocurrency might rally in the direction of the $0.060 degree.

Bulls take management as CHZ reaches $0.054

CHZ, the native coin of the Chiliz blockchain, has risen 7% prior to now 24 hours, making it one of many best-performing currencies among the many prime 100 cryptocurrencies by market capitalization.

This robust outcome comes as Chiliz continues to increase its fan token lineup for the 2026 FIFA World Cup.

Chiles introduced on Tuesday by way of X that Socios has signed a brand new nationwide soccer workforce to launch Fan Tokens, making it the fourth nationwide workforce after Argentina, Portugal and Italy.

This newest growth has elevated demand for CHZ, pushing its market capitalization above $550 million.

Nevertheless, regardless of the present outlook, CryptoQuant’s abstract knowledge helps a bearish prediction for CHZ. Information reveals that each spot and futures markets are exhibiting indicators of retail exercise and overheating, suggesting a doable correction forward.

CHZ seems to be bullish at $0.06 amid robust technicals

The 4-hour chart of CHZ/USD is bullish however inefficient as a result of rally over the previous 24 hours. At press time, CHZ is buying and selling at $0.0533 after closing above each day resistance at $0.039 earlier this 12 months.

CHZ encountered a slight pullback close to the $0.054 degree, however it could overcome it within the quick time period. If CHZ continues its uptrend, the rally might lengthen in the direction of the psychological degree at $0.060, with weekly resistance at $0.063, which might be an attention-grabbing space for the bulls.

The Relative Power Index (RSI) on the 4-hour chart is studying 66, heading in the direction of overbought territory. The Transferring Common Convergence Divergence (MACD) additionally reveals a bullish crossover, additional supporting the bullish view.

Nevertheless, if CHZ faces a pullback, it might fall in the direction of the each day resistance-to-support degree at $0.039.