Chiliz

Resistance

Relevant

<ul class="wp-block-list">
 <li>Chiliz faces a 7% fall as market activity weakens.&nbsp;&nbsp;</li>  
 <li>The token is struggling to break the $0.08 resistance level.&nbsp;&nbsp;</li>  
 <li>Low trading volume signals a challenging path ahead for CHZ.</li> 
</ul>  
<p>CHZ, a cryptocurrency known for sports fan engagement, has fallen 7% to $0.07366. This drop came with a precise decrease in trading volume, which also fell 45.78% to $109.61 million. Additionally, the market cap decreased to $671.87 million, reflecting the overall struggles of the cryptocurrency market. A prominent crypto analyst, Crypto Winkle, expounds on the advantageous aspects that would be in favour of the coin by illustrating <a href="https://cryptonewsland.com/vechain-shows-strong-bullish-rally-potential/" target="_blank" rel="noopener noreferrer nofollow">technical indicators</a> and its essence and history.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoWinkle/status/1846479009778946348
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</figure>  
<h2 class="wp-block-heading" id="h-relevant-drop-in-trading-volume">Relevant Drop in Trading Volume</h2>  
<p><a href="https://cryptonewsland.com/chiliz-chz-price-prediction-will-chiliz-surge-past-the-0-6-mark-by-2030/" target="_blank" rel="noopener noreferrer nofollow">Chiliz </a>saw an essential decline in its trading volume, showing reduced buyer desire. The 45.78% drop in volume means less liquidity, which makes price recovery harder according to the latest data from Coinmarketcap . A lower volume can also indicate that there is less confidence in short-term development. With the current volume-to-market cap ratio at 16.42%, the economic balance shows clear signs of slowing down.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc_uTiwA6qQ1SzteT78HccfB3LgL7SWqaPMPzuxQYpfcpbOVxN0dBNvsOgLSMVeRGxzkn0td3LxeuGUxkZ7vZNE1_Tq5Off3bIQ6mFNWxJbPU3Y52kdQgJ-G4w18VwBjQuew2gTodDX9I4l2IcbCBEuC33x?key=rR01Vj5W-_iwVhdOEh30oQ" alt="">
</figure>  
<p>Source: <a href="https://coinmarketcap.com/currencies/chiliz/" target="_blank" rel="noopener noreferrer nofollow"><em>Coinmarketcap</em></a></p>  
<p>In addition to trading volume, the market cap fell to $671.87 million. This aligns closely with the token’s fully diluted valuation of $671.74 million, showing a lack of short-term optimism for significant price increases. The decline in both trading volume and market cap shows that Chiliz is being affected by the larger market’s downturn.</p>  
<h2 class="wp-block-heading" id="h-facing-resistance-at-0-08">Facing Resistance at $0.08</h2>  
<p>The token is up against strong resistance at the $0.08 mark. The coin briefly hit $0.07903 before falling back. If the price cannot break this resistance, further declines may be likely. However, if it manages to rise past this level, it could indicate a potential turnaround for the token.</p>  
<p>The total circulating supply of Chiliz is 9.12 billion tokens, and this large supply limits the chances for quick price jumps. The resistance at $0.08 remains a key barrier to its price movement. Whether it can break through that level remains uncertain.</p>  
<h2 class="wp-block-heading" id="h-short-term-prospect-looks-challenging">Short-Term Prospect Looks Challenging</h2>  
<p>For now, Chiliz's outlook remains difficult. The low trading volume has made it hard for CHZ&nbsp; to recover quickly. Besides, the refusal at $0.08 is adding further pressure, making instantaneous gains unlikely. The Crypto Winkle basically addresses that unless trading activity picks up, the token may struggle to break out of its current downward trend.</p> 
<p>The post <a href="https://cryptonewsland.com/chiliz-slumps-by-7-to-0-07366-as-trading-volume-slows-down-sharply/" rel="noopener noreferrer nofollow">Chiliz&nbsp; Slumps by 7% to $0.07366 as Trading Volume Slows Down Sharply</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Chiliz Slumps by 7% to $0.07366 as Trading Volume Slows Down Sharply

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