CHZ Potential Reversal
Updated
This is my first analysis, so please be patient with me! All of the numbers are approximate.
Now that the price has bounced off MA 60 an uptrend is expected. However, please take note of the forming head and shoulders pattern, which can indicate a drop, to approx. 0.5, instead. After the reversal, the local targets are 0.76$, 0.84$, and finally 1$. However, do keep in mind that CHZ has a market cap of 3.4B usd at the moment, making the growth of the asset require increasingly more capital.
This is not financial advice.
Now that the price has bounced off MA 60 an uptrend is expected. However, please take note of the forming head and shoulders pattern, which can indicate a drop, to approx. 0.5, instead. After the reversal, the local targets are 0.76$, 0.84$, and finally 1$. However, do keep in mind that CHZ has a market cap of 3.4B usd at the moment, making the growth of the asset require increasingly more capital.
This is not financial advice.
Comment
The recent dip of bitcoin has obviously delayed the process, but all the targets still stand.
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