Leading fan token Chiliz chain, has seen CHZ price blast-up +10% in a multi-day move, and now FOMO traders are asking is it too late to buy Chiliz? Find out in CHZ price analysis, and discover a new memecoin that market analysts predict to pump next.
The Chiliz rally appears to have been fuelled by tweets from CEO and Founder Alexandre Drefus, announcing Chiliz intention for an aggressive merger and acquisitions strategy in 2024, following the successful transition to Chiliz 2.0.
#CHZ The price has almost reached the important resistance of the entire falling channel! There was rejection last time. An important block is 12 cents! $CHZ pic.twitter.com/dFWjq0Itl1
— Crypto Dream (@_Crypto_Dream) January 17, 2024
With a significant upside boost to CHZ price, trader sentiment on fan tokens is now cautiously bullish, as price action stands on the precipice of a major break-high above long-standing upper trendline resistance.
CHZ Price Analysis: Will Chiliz Breakout as Markets Flip Bullish on Skyrocket Merger and Acquisitions Strategy?
With price action pushing high, CHZ is currently trading at a market price of $0.10 (representing a 24-hour change of +2.33%).
This comes as Chiliz posts its third consecutive day of upside price action, following a strong bounce off 20DMA support around $0.83 on January 15.
Now pushing high, CHZ price analysis reveals a tough upside patch of resistance from the descendant upper trendline as a major target to break.
However, the seismic +10% move up has created an opportunity for a higher lower support level at $0.095 if the top fan token enters retracement.
Meanwhile, in a worrying sign from key indicators, the RSI has heated-up to a significant overbought signal at 69.66, which could trigger a localized retracement move.
Yet, this meets with contrast from the MACD, which is showing bullish momentum at 0.00261, reflective of the improved trader sentiment for CHZ price.
Overall, CHZ price analysis reveals that the leading fan token is poised for a major test of upside resistance, with risk limited to a potential minor localized retracement move.
This leaves CHZ price with an upside target at $0.12 (a possible +9.12%).
While downside risk could see CHZ price tumble down to lower support at $0.095 (a potential -10.82%).
Consequently, CHZ price analysis reveals Chiliz has a risk: reward ratio of 0.84, a bad late-stage entry that suggests it could be too late to buy Chiliz on the short-time frame.
But while Chiliz price analysis offers an unappealing proposition, a stronger play could emerge in the Meme Kombat presale which is heading for a highly-anticipated CEX listing in the near future.
Meme Kombat Explodes Over $6.97M Raised In Skyrocketing Presale – Don’t Miss Out on CHZ Price Analysis Alternative
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
Season 1 of the project promises 11 unique meme characters, ensuring plenty of action. Season 2 is already planned for December 2023. The project’s decentralized nature, along with the excitement of AI-driven battles, guarantees outcomes that are transparent yet unpredictable.
We go big on community and @BuryCrypto recognizes that
Check out his video on $MK being one of the best crypto presales to engage with right now! pic.twitter.com/DGIedfOdBz
— Meme Kombat (@Meme_Kombat) January 16, 2024
CHZ Price Analysis Blues? Meme Kombat Pits Meme Communities in High Octane Staking Battles
The project goes beyond excitement; it’s founded on trust. Meme Kombat’s dedication to transparency shows in their upcoming smart contract security audit.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His role as COO of North Technologies, and two decades in process design add credibility to Meme Kombat. Whiteman’s public profile and the Amsterdam address give extra trust in an era of project anonymity.
The tokenomics of Meme Kombat hold strong appeal for potential investors. You can stake the Meme Kombat ($MK) token, currently priced at an attractive $0.279, to enter a rewarding ecosystem.
This ecosystem offers a generous APY of 148%. Stakers benefit from passive income and have the unique opportunity to use their staked tokens for betting in the arena. This dual functionality, earning while gaming, distinguishes Meme Kombat.
Additionally, your engagement on the platform directly impacts your potential earnings. The more you participate, the more you can gain.
The rapidly growing GambleFi industry, with notable coins like Rollbit, sets the stage for Meme Kombat to capitalize on this market through its distinctive approach.
Merging memes, gaming, and blockchain, the platform offers a fresh perspective to the crypto community.
Meme Kombat offers a unique, unmissable opportunity for portfolio diversification. – (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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