Chiliz has been one of the top crypto gainers in the last 24 hours. The fan token is up 11% to trade at $0.227 at the time of writing. Despite the dips seen across the crypto market over the past week, CHZ is up by 4.8% in one week.
Chiliz price analysis
The cryptocurrency market is currently showing signs of consolidating after intense volatility was seen last week following the collapse of the FTX exchange. In the last 24 hours, CHZ has traded between $0.20 and $0.24, showing substantial volatility. The token’s trading volumes in the past week stand at more than $941 million.
Chiliz remains bullish and could be headed higher in the short term. The token could break through the $0.30 resistance if the buying support continues. As the token has decoupled from the broader market, it will likely continue making independent price swings.
Chiliz has outperformed the broader market and is among the few coins still sitting on gains over the past week. Despite these gains, CHZ is down 74% from its all-time high of $0.87.
The price movement of CHZ shows the possibility of a trend reversal as the Relative Strength Index is at 38, showing selling pressure. The selling pressure could be attributed to the short-term traders taking advantage of the recent price gain.
If CHZ cannot sustain the uptrend, this token will likely plunge lower and test support levels at $0.20 again.
FIFA World Cup delivers gains for Chiliz
The FIFA World Cup is slated to start on November 20, and the event is already triggering gains for CHZ. The global event is expected to trigger notable gains for the entire web 3.0 & crypto space following massive sponsorships by firms such as Crypto.com.
Chiliz has become one of the major players in the sports arena. CHZ powers the Socios.com platform that has been used to create fan tokens for some of the largest football clubs, such as Manchester City, Paris Saint-German, Arsenal, FC Barcelona, and AC Milan.
Why these tokens could deliver 10x gains
As CHZ continues to gain, other tokens also show potential to rally higher and could deliver notable gains in the short and long term.
The hottest presale in the crypto market today is for Dash 2 Trade. Dash 2 Trade is a crypto signals platform that will be released early next year. However, the presale for the project’s native token, D2T, is currently underway, and more than $6.3 million has been raised. The presale is in the third out of nine stages, and as soon as all stages are complete, D2T has already confirmed listings on LBank and BitMart.
To diversify your portfolio in Web3 gaming, you should check out the RobotEra presale. Web3 gaming has become one of the core areas in the crypto space. RobotEra seeks to transform this space by allowing players to be part of the ecosystem. The RobotEra presale is in the first stage, and nearly $100,000 has been raised.
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