CHZ/USDT Weekly Technical Analysis1. Overall Trend
CHZ remains in a long-term downtrend, as shown by the descending trendline from its 2021 highs.
However, price is now consolidating near a long-term support zone around $0.045–$0.05, signaling a potential reversal zone.
Price is approaching a key confluence area: the downtrend line + bottom of the Ichimoku Cloud.
2. Ichimoku Cloud
Price is still below the cloud, indicating bearish momentum.
But the cloud is thin, and there’s a potential “Kumo Twist” ahead — a favorable condition for a trend reversal.
A successful breakout above the cloud would signal a strong bullish shift.
3. MACD (Moving Average Convergence Divergence)
MACD line is slightly below the signal line, but both are near the zero level.
A bullish crossover may be forming, indicating potential upward momentum.
Histogram is nearly neutral, showing weakening bearish pressure.
4. RSI (Relative Strength Index)
RSI is around 36.89, below the 50-neutral line, suggesting bearish bias.
However, there’s a small upward slope — a sign of possible reversal.
RSI crossing above 50 would confirm strength in buying momentum.
5. Volume
Volume has been declining over time, indicating accumulation.
A strong breakout will require a significant volume surge.
6. Chart Pattern
CHZ seems to be forming a falling wedge or a compression zone, typical of accumulation before breakout.
A breakout above $0.07 would confirm this pattern.
7. Upside Target
If CHZ breaks out, the chart suggests a long-term target near the 0.786 Fibonacci retracement level (~$0.39).
This represents a potential +900% move from current levels.
