Connect with us

Bitcoin

Chiliz Price Prediction 2021 – Will CHZ Hit $1 Soon?

Published

on

Chiliz Price Prediction 2021 - Will CHZ Hit $1 Soon?
  • Bullish CHZ price prediction ranges from $0.39 to $0.94.
  • CHZ price might also reach $1 soon.
  • CHZ bearish market price prediction for 2021 is $0.06.

In Chiliz (CHZ) price prediction 2021, we use statistics, price patterns, ADX, and much other information about CHZ to analyze the future movement of the cryptocurrency. 

Chiliz is the currency of choice for blockchain-backed products and services for mainstream consumers. Chiliz provides sports organizations and blockchain-based tools to help them participate and monetize their audience. CHZ tokens can also be used to purchase/exchange Fan tokens through the consumer-oriented platform Socios.com.

According to CoinGecko, the CHZ price is trading at $0.24 with a 24-hour trading volume of $506,462,879, at the time of writing. However, CHZ has decreased by 8.3% in the last 24 hours.

Moreover, CHZ has a circulating supply of 5,344,064,580 CHZ. Currently, CHZ trades in cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Huobi Global, and FTX.

Chiliz (CHZ) Price Prediction 2021

Chiliz (CHZ) holds the 64th position on CoinGecko right now. CHZ price prediction 2021 explained below with a daily time frame.

CHZ/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Bullish Flag patterns. This pattern forms after a price spike that peeks out and slowly forms a short-term downtrend reversal. The starting point of the trendline must connect the highest high (uptrend line) and the highest low (downtrend line) to represent the flag portion. 

Although the lines slope downward, they should remain relatively parallel. Eventually, the price must rise to cross the top trend line, causing bears to hedge and buyers to cross the fence. When the price crosses the highest point, as buyers move towards new highs, the next segment of the uptrend continues and a bullish flag is formed.

Currently, CHZ is waving at $0.25. After this, CHZ may continue to fall or rise according to the breakout. With this pattern, CHZ will violate the upper trendline reaching $0.94 soon. If the trend reverses, then the price of CHZ may fall to $0.16.

Chiliz Support and Resistance Level

The below chart shows the support and resistance level of CHZ.

1637010251 726 Chiliz Price Prediction 2021 Will CHZ Hit 1 Soon
CHZ/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frames, it is clear the following are the resistance and support level of CHZ.

  • Resistance Level 1 – $0.39
  • Resistance Level 2 – $1.04
  • Support Level 1 – $0.15
  • Support Level 2 – $0.06

The charts show that CHZ has performed a bullish trend over the past month. If this trend continues, CHZ might run along with the bulls overtaking its resistance level at $1.04.

Conversely, if the investors turn against the crypto, the price of CHZ might plummet to almost $0.06, a bearish signal.

Chiliz (CHZ) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of CHZ. Generally, ADX helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is beginning. However, it is linked with the Directional Movement Index (DMI). 

Moreover, the range of oscillators is from 0 to 100. In addition, a high value indicates a strong trend, while a low value represents a weak trend. It is also often used in combination with direction indicators.

1637010251 433 Chiliz Price Prediction 2021 Will CHZ Hit 1 Soon
CHZ/USDT ADX(Source: TradingView)

The above chart shows the ADX of CHZ stays above the range of 8.19, so it indicates a sideways trend.

Conclusion

The CHZ is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term CHZ price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.87 this year. However, this will only happen if CHZ breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the CHZ ecosystem, it could experience a great future ahead in 2021. It may reach $0.94 soon and it might even reach high heights, however reaching $1, if investors have planned that CHZ is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended for You

google news
Advertisement

Bitcoin

Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack

Published

on

lympo

The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack.

Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer.

An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else.

With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093.

Lympo Team To Fix Grudges

Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption.

Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action.

With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss.

Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that.

Another Crypto Hacking On Hot Wallet

Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange.

Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ.

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack.

Featured Image from Pexels

google news
Continue Reading

Bitcoin

Walmart All-set to Enter NFT and Metaverse Arena

Published

on

Walmart All-set to Enter NFT and Metaverse Arena
  • There have been a total of seven distinct applications for consideration.
  • Nike purchased RTFKT, a virtual sneaker firm, in December.

Following last year’s false allegations regarding Walmart and Litecoin, the US retail behemoth has formally filed documentation with local authorities to join the cryptocurrency and metaverse arena. According to reports, Walmart aims to develop its own cryptocurrency and non-fungible tokens (NFTs) in the metaverse.

Recently, the big-box store filed many new trademarks showing its intention to produce and sell virtual items, such as electrical devices, home décor and furnishings and a toy or recreational equipment and personal hygiene products. NFTs and a virtual currency will be offered to customers, according to the company’s application.

It has been reported that Walmart submitted the applications on December 30th, according to the United States Patent and Trademark Office. There have been a total of seven distinct applications for consideration.

Major Players Are Already Onboard

According to Gerben, trademark attorney, companies have been scrambling to find out how they would fit into the virtual world since Facebook announced it was changing its corporate name to Meta, suggesting its goals beyond social networking.

Sneaker and clothing company Nike has filed many trademark applications indicating that it intends to offer virtual versions of its products. Within a few days, it was announced that Nike would be collaborating with Roblox to build a whole new virtual environment dubbed Nikeland. It purchased RTFKT, a virtual sneaker firm, in December.

Gap has recently begun offering non-traditional T-shirts with the company’s trademark emblem. NFTs will be sold in levels ranging from $8.30 to $415 and come with a tangible hoodie, according to the fashion company. Adidas and Under Armour’s NFT releases sold out last month, as well. OpenSea’s NFT marketplace has seen a surge in demand for these items.

google news
Continue Reading

Bitcoin

FinTech Scotland Celebrates 5th Year, Showcased Remarkable Growth Since Debut

Published

on

FinTech Scotland Celebrates 5th Year, Showcased Remarkable Growth Since Debut