Chiliz (CHZ) bounces from 2022 lows; will prices break above $0.15?

Chiliz is firm, inching higher with decent trading volumes. Immediate resistance is at $0.15. A breakout may lift CHZ towards $0.20. Past Performance of Chiliz Crypto Chiliz token prices are down over 80 percent from peaks of Q1 2021 of $0.94. Currently, CHZ prices are trickling lower, trading at around 2022 lows. Technically, the CHZ token remains under immense liquidation pressure and is within a bear breakout formation, sliding below H2 2021 and Q1 2022 lows at $0.17. Chiliz Technical Analysis From a top-down analysis, CHZ coin sellers are in the driving seat. However, there are hints of strength as per the arrangement in the daily chart. The bounce from $0.09 was bullish. Subsequent confirmation this week solidified buying pressure. Still, there should be a clean break above $0.15 and the middle BB, paving the way for a possible retest of $0.20. Presently, the rejection of higher highs and May 18 being a pin bar suggests a slowdown in the upside drive. Losses below the recent intra-day consolidation at $0.11 may trigger further sell-offs towards May 12 lows. What to Expect from CHZ? Buyers are confident. However, for CHZ buyers to take charge, there must be a comprehensive close above $0.15 and the middle BB. This breakout will nullify the selling preview set in motion by the May 11 bear candlestick.The post Chiliz (CHZ) bounces from 2022 lows; will prices break above $0.15? appeared first on Cryptoknowmics-Crypto News and Media Platform.