Z price analysis is in favor of the bulls for the day as the price has increased further, and the market is showing positive sentiment toward the crypto pair. The price has been under the bearish shadow for the past few days, but the coin is maintaining its price levels, yet today a recovery in price value is being observed.
The green candlestick on the price chart is marking a bullish price movement, and the CHZ/USD value has increased up to the $7.3 mark.
The buying pressure is increasing, with the trading volume also increasing to $72 million. The market capitalization of the coin is also increasing and currently stands at $846 million.
The one-day CHZ/USD is confirming an increasing trend for the day as the bulls have been maintaining their lead for the past few hours. The green candlestick is an indication of the rise in price as a result of the continuation of the bullish momentum, and the CHZ/USD value has now reached $0.1271 after gaining a 1.27 percent value during the last 24 hours.
Further recovery is possible in the coming days if the bullish efforts remain consistent. The moving average (MA) value for the cryptocurrency is now at $0.131, just below the price level.
The volatility has been high as the Bollinger bands are covering more areas now. The Bollinger Bands Indicator shows the following values for today; the upper value is at $0.145, whereas the lower value is at $0.094.
The Relative Strength Index (RSI) is in the lower neutral range and has been trading at index 55.75; the indicator hints at low momentum from the bullish side.
The 4-hour Chiliz price analysis shows the price has been progressing slowly for the past few hours, and an increasing trend was observed in the last four hours as well. The latest upwards trend has improved the cryptocurrency value up to the $0.1271 mark after a small correction observed at the start of the trading session.
However, bulls have successfully recovered the corrected amount and are covering the range further upwards. The price is trading above its moving average value, i.e., $0.126.
The Bollinger band’s average value is $0.130; because of the decrease in volatility, further uptrends can be expected in the next few hours as the price is moving towards the upper limit of the Bollinger bands. The Upper band value is $0.140, whereas the Lower Bollinger band value is $0.120. The RSI is showing an upward curve with an increase in the score up to index 41.96.
Overall, the bullish sentiment is prevailing in the CHZ/USD market, and further price growth can be expected if bulls continue to remain strong in the coming hours.