MarketPredictionPrice Analysis

Chiliz (CHZ) Price Prediction 2021 — Will CHZ hit 5$ in 2021?

  • Bullish CHZ price prediction ranges from $0.75 to $1.16
  • CHZ price may also surge to $5.
  • CHZ might show good market performance this 2021, reaching a new ATH.

This Chiliz Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration when coming up with our CHZ price analysis and prediction.

Nowadays, people are showing huge interest in cryptocurrency. In addition, many cryptocurrencies have spiked during the current 2021 bull run. However, a few cryptos have also endured a downtrend. Consequently, many traders and investors are confused about whether it is time to sell or hold out for a good price.

The Chiliz price reached its newest all-time high (ATH) this March 13, 2021, at $0.89. It also reached a 24-hour trading volume of over $3.51 billion.

Nevertheless, the crypto market is in the bearish movement lately, and most cryptos are losing their previous profits. Is the scenario the same with CHZ price? We’ll find out shortly in this CHZ price analysis 2021 article. But first, let’s have a look at what CHZ is.

What Is Chiliz (CHZ)?

Chiliz is one of the blockchains for esports and gaming crowdfunding. Officially launched in 2019, the concept for Chiliz and the platform Socios.com were initially conceived in 2016.

The Socios.com platform also aims to help fans to buy tokenized voting rights for the teams they support. For example, football club Juventus is the first to launch a team token through the Socios.com website. Since then, more than a hundred various teams have joined the platform.

Currently, the top crypto trading platforms for CHZ are Binance, Huobi Global, OKEx, HBTC, and Xtheta Global.

Now that we have an idea about Chiliz, do you think CHZ will be profitable crypto in 2021? Are you curious to find out already? Join me and let us see the charts in this CHZ price analysis and CHZ price prediction.

CHZ Price Prediction 2021

Currently, CHZ holds 31st place on CoinGecko. But will the recent changes and developments in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this CHZ price prediction article.

In the monthly time frame chart shown below, we can see the Ascending Scallop pattern. Usually, this is preceded by an uptrend. However, the pattern can follow a downtrend as well. More so, the pattern itself suggests a break further to the upside level. More so, this pattern took more than a month to form.

CHZ USDT chart showing Ascending Scallop pattern
CHZ/USDT chart showing Ascending Scallop pattern (Source: TradingView)

As shown above, at the beginning of this, CHZ turned from its bear to bull trend. This shows a high trade volume happened in that period. Moreover, in the smaller time frame, CHZ showed a Symmetrical Triangle pattern. We will discuss this pattern toward the end of the article.

The Relative Strength Index (RSI) is at 80, which means that CHZ is in an overbought state. Consequently, this may lead to a price reversal at any given time. Therefore, traders must trade with care and avoid being affected by the market hype. With this in mind, crypto traders can be cautious and move away from unexpected losses due to the crypto market’s wild swings.

CHZ Relative Strength Index
CHZ Relative Strength Index (Source: TradingView)

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

CHZ 50-day SMA and 30-day EMA
CHZ 50-day SMA and 30-day EMA (Source: TradingView)

Since the start of 2021, Chiliz’ price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidations, and corrections right away. Taking this into consideration, CHZ has a competitive market this 2021. Moreover, some crypto experts predict March will be altcoin season.

CHZ Price Prediction Chart Showing Symmetrical Triangle Pattern

As shown below in this CHZ price forecast chart, in a smaller time frame, CHZ has shown a Symmetrical Triangle Pattern.

CHZ USDT Ascending Symmetrical pattern
CHZ/USDT Ascending Symmetrical pattern (Source: TradingView)

The pattern represents a period of consolidation, which might soon force a price breakout or breakdown. A breakdown from the lower trendline shows the start of a new bearish trend, while a breakout from the upper trendline marks the start of a new bullish trend.

In the short-to-mid term scenario for our CHZ price prediction 2021, CHZ has to break past the Fib retracement level at $1.16. To do this, it has to establish more support at the Fib level at $0.96. If not, bears may gain the upper hand and drag CHZ to their territory.

Conclusion

CHZ has a bright future ahead of it in 2021. With ongoing developments happening within the CHZ ecosystem, as well as in the overall crypto market, we may see CHZ reach new heights.

CHZ USDT Price Chart
CHZ/USDT Price Chart (Source: TradingView)

Meanwhile, our long-term CHZ price prediction 2021 is bullish. It has a high possibility of surpassing its current ATH this year. However, that will only happen if it breaks previous psychological resistances.

Bullish CHZ price prediction 2021 is $4.15. Moreover, it may even reach $5 if investors have decided that CHZ is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is CHZ?

Chiliz is a token designed to help fans to support their favorite sports teams through blockchain-based interactions.

How to Buy CHZ Tokens?

Users can obtain CHZ tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.

Is CHZ worth buying?

CHZ is a good investment in 2021. However, crypto traders and investors need to take extra care when trading in digital currencies, as they are extremely volatile.

Will CHZ hit 5$ in 2021?

Yes, as per the current trend, its very much possible that CHZ will hit 5$ before end of 2021

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

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