- August 23, 2022
Chiliz Course Forecast: Chiliz coming soon to ATH?
While many cryptocurrencies such as BTC and Ethereum are bearish, Chiliz is extremely bullish. Is the Chiliz price now rising to the ATH?
The Chiliz price is in the parallel downward channel
The Chiliz price fell from around 0.95 USD to around 0.081 USD and has been in a parallel downward channel since then. But since last month the chiliz price has been rising massively and especially this month the chiliz price could rise even higher. In addition, the histogram of the MACD has been ticking bullish higher since last month. Meanwhile, the RSI is neutral and gives neither bullish nor bearish signals.
For a complete bullish trend reversal, the Chiliz price must break the Golden Ratio at around $ 0.63. However, significant Fib resistance is already waiting at the upper trend line of the parallel downward channel at around $ 0.42.
Chiliz price now meets Fibonacci resistance
In the weekly chart, the Chiliz price was able to overcome the 50-week EMA at around $ 0.2 and is now encountering significant Fibonacci resistance at the Golden Ratio at around $ 0.24. If Chiliz breaks this resistance, Chiliz could rise to around $ 0.42.
On the other hand, if Chiliz is rejected bearishly, significant Fibonacci support is waiting for him at around $ 0.178 and $ 0.14. In addition, the MACD is clearly bullish on the weekly chart, because the histogram has been ticking bullish higher for several weeks and the MACD lines are also crossed bullish. The RSI is neutral.
A golden crossover could establish itself in the daily chart
Also in the daily chart, the histogram of the MACD ticks bullish higher and the MACD lines are crossed bullish. In addition, the EMAs could establish a golden crossover, which would confirm the trend bullish in the short to medium term.
However, the RSI could build a bearish divergence, after which the chiliz price could correct strongly.
Is the Chiliz price rising on the ATH in the BTC chart?
Against BTC, the Chiliz price is at the decisive Fibonacci resistance at around 0.0000115 BTC. If Chiliz breaks this resistance, it could rise to the ATH at around 0.0000168 BTC or even set up a new ATH.
In addition, the histogram of the MACD in the monthly chart is ticking bullish higher for the third month in a row and the MACD lines could now cross bullish.
Should Chiliz still be rejected bearishly now, he will find significant Fib supports at the latest at around 0.00000795 BTC and 0.000006 BTC.
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