Are you watching Chiliz and wondering where the token could go next? Then you’re in the right place. Let’s take a closer look at the recent CHZ price performance and break down what the charts are revealing. The Chiliz price has moved with quiet confidence over the last 24 hours, showing signs of strength despite broader market uncertainty. While the gains haven’t been explosive, they’ve been steady, helped by minor uptrends and a lack of strong bearish pressure. Traders are closely tracking whether this momentum can build into something more decisive. Let’s dive into the technical indicators and explore what might lie ahead for the CHZ price.
Chiliz (CHZ) Price Analysis for May 10, 2025
Chiliz traded at $0.04415 as the trading session commenced. The golden cross late on the previous day kept the bullish pressure strong, and Chiliz moved up to $0.04508 by 1:55 UTC. At 2:00 UTC, a death cross formed, warranting correction. The RSI was also overbought at this time. The price retraced to $0.04459. The price soon rose to $0.04510. However, the price was again rejected at that level. This rejection led the price down to $0.04415. However, at 5:05 UTC, a golden cross formed, and the price started climbing confidently to $0.04666.
CHZ/USDT, M-5 Chart, analyzed by raodevansh18, published on TradingView, May 10, 2025
The RSI reached massively overbought levels during this climb, and a strong correction ensued. The price fluctuated down to $0.04513 by 09:50 UTC. The price attempted to climb again with the 10:05 golden cross, pushing the price up to $0.04640. The $0.04630 level offered strict resistance and rejected the CHZ price’s further advances, falling to $0.04480 by 14:30 UTC. Heavy fluctuations occurred, but the Chiliz price action was confined to a narrow range below $0.04565. Finally, an upward CHZ breakout to $0.04605 followed at 17:00 UTC.
The bulls soon lost control of the Chiliz price, and a downward trend broke out with the 18:20 UTC death cross. The price retraced to $0.04535. An upward climb was attempted at 20:25 UTC, but met a strong ceiling close by at $0.04599. A trading range followed, as neither the buyers nor the sellers could push the CHZ price into a definitive trend. An upward CHZ breakout followed at 23:05 UTC, as the price climbed rapidly to inch above the resistance. A slight correction occurred, and the price was pushing up by midnight.
CHZ Breaks Above Resistance, Faces Resistance at $0.04770
At midnight, the Chiliz price was $0.04628. The strong bullish pressure led the price up to break out above the resistance at $0.04750. With the RSI indicating overbought levels, a sharp correction occurred, bringing the price back to $0.04587. Another consolidatory phase began, and the price was at $0.04598 by 5:00 UTC. A golden cross formed at this point, leading the price up to $0.04770 by 8:00 UTC. Since then, a correction has occurred, and the price has returned to $0.04686.
More Downsides Likely for CHZ, $0.04600 Will be A Key Support
As of now, the Chiliz price is making its way down after unsuccessfully testing the $0.04770 resistance multiple times. The bearish pressure is considerable, indicated by the widening death cross on the MACD indicator. The RSI has also fallen below the midline, suggesting heightened bearish pressure. This means that Chiliz may fall further. Given that, the temporary support at $0.04600 will be a key level to watch.
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