Chiliz Price Prediction - Should You Invest in Fan Tokens Before the World Cup Starts

Chiliz has been on a major bullish run in the past few weeks, and one of the fan tokens set to make major gains is Chiliz. Over the past 24 hours, CHZ has shown signs of retracing as the broader cryptocurrency market turns bearish.

Chiliz price analysis

Chiliz is bearish today, dropping by 6.2% in the last 24 hours. At the time of writing, CHZ was trading at $0.263, according to CoinGecko. CHZ has been up by 42% in the past two weeks despite the decline.

Chiliz’s trading volumes in the past 24 hours stand at $982 million, making it one of the most traded coins across the market. The token currently has a market capitalization of $1.4 billion, ranking it as the 41 largest cryptocurrency.

Chiliz has turned bearish today as it follows the trend of the broader cryptocurrency market. The broader market capitalization has dropped by around 2.6% in the last 24 hours, but it is still above $1 trillion.

Chiliz price analysis

The technical indicators show that CHZ is currently caught between the bulls and the bears. The Relative Strength Index (RSI) is at 49, indicating that the token is neither oversold nor overbought. The Moving Average Convergence Divergence is moving alongside the signal line.

Despite the recent decline, CHZ is yet to report massive selling pressure. As traders hold on to the token and rush in to buy more, the token could rally higher and possibly break past $0.50 this month.

Chiliz could rally as World Cup nears

The FIFA World Cup is now less than two weeks away and is slated to commence on November 20. The most-watched sporting event globally could trigger significant gains for Chiliz, which has positioned itself firmly as a fan token.

The CHZ token powers a fan engagement platform known as Socios. The platform has been used to launch fan tokens for some of the largest soccer clubs, including Juventus and Leeds United.

Fan tokens are popular because they allow fans to engage better with their favorite teams and players. The tokens offer multiple benefits to the holders, such as prizes, while allowing them to vote on minor decisions by the club.

Altcoin alternatives to buy today

If you are buying CHZ today, you might consider investing in some of the best-performing presales of 2022. These presales involve tokens that have the potential to gain because of their large utility.

One of these presales is for Dash 2 Trade (D2T). Dash 2 Trade is a platform that gives crypto traders access to trading signals to help them make informed trading decisions. The Dash 2 Trade presale has raised more than $5.47 million. The presale is currently in the third stage and will enter stage four after raising $8,757,000.

The other presale to consider participating in today is IMPT. IMPT is the native token for the IMPT.io platform. The IMPT presale commenced on October 3, raising more than $12.42 million. IMPT.io is a platform focused on lowering carbon emissions. By tapping into blockchain technology, IMPT plans to enable individuals and companies to lower their carbon emissions efficiently.

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