Chiliz (CHZUSD) Price Prediction for Today 22 November: CHZ Is Targeting $0.13 Level

Sellers’ pressure increases in Chiliz market

Chiliz (CHZUSD) Price Analysis – 22 November

The key support level of $0.17 may be broken downside and the Chiliz may reduce to $0.16 and $0.13 support levels when there is a further increase in sellers’ momentum. The resistance level of $0.20 may be broken upside, and the $0.22 and $0.26 levels may be tested in case the buyers gather more momentum.

CHZ/USD Market

Key Levels:

Resistance levels: $0.20, $0.22, $0.26

Support levels: $0.17, $0.16, $0.13

CHZUSD Long-term Trend: Bearish

Chiliz is under the sellers’ control. Buyers dominated the Chiliz market eight days ago. The buyers pushed the price to the resistance level of $0.26. Bulls’ momentum could not break up the just-mentioned level and the price experience a bearish reversal. Strong big bearish candles formed and the price declined to the previous low of $0.16. Today, sellers are exerting more pressure and the price may decline to $0.13 support level.

The price action has formed an “M” chart pattern on the daily chart which indicates that sellers are dominating the market. The crypto is trading below the two EMAs. The key support level of $0.17 may be broken downside and the low of $0.16 and $0.13 may be reached when there is a further increase in sellers’ momentum. The resistance level of $0.20 may be broken upside, and the $0.22 and $0.26 levels may be tested in case the buyers gather more momentum. The Relative Strength Index (14) is at the 41 level pointing down to indicate a sell signal.

CHZUSD Medium-term Trend: Bearish

Chiliz is bearish in the 4-hour chart pattern. The price action on the 4-hour time frame has formed a short “M” chart pattern. This is what triggered the bearish movement. The former support level of $0.20 and $0.22 has turned into resistance levels. The price is currently targeting the support level of $0.13.

The price is trading below the 9 periods EMA and 21 periods EMA at distance as an indication that the sellers are in control. The Relative Strength Index period (14) bends down at the 26 levels indicating a sell signal. Chiliz is reducing in price while IMPT token and Dash 2 Trade are increasing daily.

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