#Chiliz currency has witnessed a 65% drop after hitting the strong supply area 3 times. After the change in nature and breakdown of the price structure, the supply area created in the $0.1380 price range can lead the price to support and demand after consuming the liquidity indicated on the chart.

#Chiliz has announced the launch of its $50M USD incubator and accelerator programme #Chiliz Labs.

#Chiliz

The price moves between two levels of resistance and support. The break of the $0.12800 resistance zone has not happened yet. And due to the breaking of the dynamic support, there is a possibility of the price falling to the $0.08440 area.

The price of #CHZ has recently formed an ascending channel in the 4-hour time frame.

Despite the corrective state of #Bitcoin, #Chiliz is currently undergoing a pump

Price after reaching the ceiling of the channel and the resistance zone of $0.163-0.168, it started to decrease.
It is expected to continue moving in the ascending channel.

Short-term trend is Strong Up, Medium-term trend is Up and Long-term trend is Up.

#Chiliz has made significant moves, and it is very important to check it.
The formation of an upward harmonic pattern caused the price to grow by about 80% and reach the resistance level of $0.1630-0.1680.
Then, the price reacted strongly to the resistance level and corrected more than 100%.

Now, the price has reached the support level of $0.0720-0.0670. If the current level is maintained, the price will grow. The trend is still bullish, and if the price falls from the current level, it will return to $0.0560. The general trend of the market is improving, and the bullish scenario is more likely.