Chiliz CHZ price is approaching the zone of strong liquidity
The CHZUSDT price is trying to catch up with the upward trend that has been dominating the crypto market for more than a month.
The other day, the CHZ price finally consolidated in the upper half of the falling global channel.
CHZUSD will soon reach $0.18, and then it will be more difficult for buyers to drive the price up.
After all, it is in the range of $0.18-0.28 that a strong liquidity zone is observed.
During the 3 autumn months, some bought CHZ in this range and others successfully sold it, and, as we can see, the sellers were stronger. And all because Chiliz announced its sponsorship of the 2022 FIFA World Cup.
In fact, the situation around the CHZUSDT price perfectly reflects the trader's saying: "buy rumors and sell facts".
While some people were buying CHZ in the expectation that the price of CHZ would skyrocket with the start of the 2022 World Cup, major players were selling CHZ to everyone who want for 3 months.
And with the start of the FIFA World Cup 20.11.2022, the CHZUSDT price began its -65% drop.
Therefore, it is very likely that those who have been sitting in a "painful deposit drawdown" for more than 3 months will sell their CHZ "to zero" in the range of $0.18-0.28. This is how human psychology works. And this, in turn, will slow down growth.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
The other day, the CHZ price finally consolidated in the upper half of the falling global channel.
CHZUSD will soon reach $0.18, and then it will be more difficult for buyers to drive the price up.
After all, it is in the range of $0.18-0.28 that a strong liquidity zone is observed.
During the 3 autumn months, some bought CHZ in this range and others successfully sold it, and, as we can see, the sellers were stronger. And all because Chiliz announced its sponsorship of the 2022 FIFA World Cup.
In fact, the situation around the CHZUSDT price perfectly reflects the trader's saying: "buy rumors and sell facts".
While some people were buying CHZ in the expectation that the price of CHZ would skyrocket with the start of the 2022 World Cup, major players were selling CHZ to everyone who want for 3 months.
And with the start of the FIFA World Cup 20.11.2022, the CHZUSDT price began its -65% drop.
Therefore, it is very likely that those who have been sitting in a "painful deposit drawdown" for more than 3 months will sell their CHZ "to zero" in the range of $0.18-0.28. This is how human psychology works. And this, in turn, will slow down growth.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.