CHZ USDTChiliz (CHZ) showcases a clear bearish trend marked by lower highs and lower lows. The price is currently consolidating within a critical support zone Green at $0.0803 - $0.0837, following a significant rejection from the resistance zone Blue $0.1313-$0.1360. This support area is pivotal for determining the next directional move, as a breakdown could lead to further declines toward $0.0541 or even $0.0431. On the other hand, a successful defense of this Green zone could initiate a relief rally toward the immediate resistance at $0.0955, with further upside potential targeting the Blue resistance zone if momentum builds. The broader trend remains bearish in the medium term, but short-term consolidation suggests a neutral stance as the market awaits a decisive breakout or breakdown. Volume at 143.5M indicates moderate activity, though a significant increase will be needed to confirm any directional move. Overall, this chart highlights a critical inflection point, with traders advised to watch for key levels and patterns to gauge the next move.
