Market & Ticker: Chiliz  CHZ/USDC

Date: 05/12/2024 
 
Horizon / Timing:  Tactical Mid-term / 1 to 3 months 
 

Scenario:  
 
CHZ (Chiliz) is showing strong bullish elements on a weekly chart basis (see below) opening a potential towards the previous ATH at 0,90.

On the short-term perspective, the trendline surpass confirm the exit from the multi weeks consolidation opening 0,26.

As long as 0,10 remain a tactical support valid (daily close) a larger rise to 0,1780 is expected before 0,26 in extension.

CHZ tested the support at 0,10, only a daily close valid would jeopardized the direct bullish scenario - A trading range can occur instead.
 
Technical Key Elements: 
- bullish exit from multi weeks consolidation 
- RSI Indicator is positive – no divergence 
- The Moving average are support 
- Fibonacci key support is adjusted at 0,10 while the key resistance is adjusted at 0,1780 and 0,26 

 
Trade Idea conclusion:  Bullish - Conviction (High) 

Target 2: 0,26 

Target 1: 0,1780 

Tactical support: 0,10 (daily close) 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

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