Chiliz Price Prediction – CHZ Shoots Up 4%, $1 Incoming During World Cup?

Chiliz Price is preparing for a showdown ahead of the 2022 World Cup in Qatar. The world’s leading blockchain and fintech provider for sports and entertainment tokens has gained a lot of following ftx infection, Since the support at $0.145 was respected, CHZ has maintained an upward momentum while firmly holding an ascending trend line.

fifa world cup qatar 2022

The FIFA World Cup Qatar 2022 will start on November 20, 2022. Thirty-two teams that qualify for one of the world’s biggest sporting events will compete in 64 matches. Sport utility tokens such as CHZ are expected to be in the headlines next month. Chiliz is up 4% already on the eve of Qatar football team’s first match against Ecuador.

Despite the liquidity crunch that continues the recovery of the crypto market, CHZ posted a gain of 8.7% over the past 24 hours. While most cryptos erased their progress in October, Chiliz claimed 47.5% in total accrued gains in 30 days.

The biggest question is whether chillies price will maintain positive outlook during FIFA World Cup 2022. Insights from on-chain data suggest that crowdfunding is already high in anticipation. There was a huge increase in the number of mentions of chilies (CHZ) and its related products. Many people are discussing this project – a factor that could keep the price of chilies at a higher level.

Traders and holders are buying chillies in large numbers

There has also been an increase in social interest among CHZ holders. Addresses with 10,000 and 100,000 tokens have increased from 19,862 on November 1 to 21,185. A similar bullish pattern can be seen between addresses between 100,000 and 1,000,000. This cohort accounted for 944 addresses out of 857 claimed in the same period.

From the chart below, the price trend of Chilies can be seen with increasing investor activity. Therefore, CHZ is expected to continue to rally, especially with the FIFA World Cup putting the spotlight on sports utility tokens.

Whales who still have an interest in the price of chilis may aid its bullish momentum. IntoTheBlock’s IOMAP model reveals a high concentration of buyers between $0.22 and $0.23. This support, coupled with the absence of a significant resistance at $0.30, has the potential to retain the bullish outlook in Chili’s price.

Chiliz was priced at $0.24 at the time of writing. To continue the uptrend it is important to hold on to the support provided by the ascending trendline. A buy signal from the Super Trend indicator is still in place and could encourage bullish traders to hold on to their positions.

A break and hold above the first take-profit target of $0.26 (TP-1) is necessary for a move above $0.30 (TP-2). On the downside, bearish traders will wait to activate their orders as the chilis break out and hold below the trend line. Such a move could end in a decline towards the $0.20 and $0.15 key supports, respectively.

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