Chiliz (CHZ) Breaks Support Level, Recovery Rally Toward $0.140 in Focus

On January 28, Chiliz (CHZ) continues its upward price trajectory, extending recent positive momentum. Over the past 24 hours, CHZ has gained approximately 3.86%, signaling renewed buying interest. On a weekly scale, the token has delivered strong performance, rising 11.61% as per CoinMarketCap data.

At the time of writing, CHZ is trading at $0.05683, supported by growing market activity. The 24-hour trading volume stands at $91.63 million, reflecting an 8.01% decline compared to the previous day.

Meanwhile, market capitalization is valued at $582.03 million, marking a 3.88% increase as momentum continues to strengthen.

Also Read: Chiliz (CHZ) Rally Builds: Falling Wedge Signals Potential Surge to $0.300

CHZ Trend Reversal Signals Strength

CHZ spent most of 2024–2025 in a strong downtrend, respecting a descending trendline with consistent lower highs and lower lows. According to crypto analyst Lucky, the price entered a demand zone around $0.020–$0.035. Selling pressure weakened, and volatility compressed.

Accumulation appeared, signaling bearish exhaustion and a potential trend reversal. A daily close above the descending trendline was a clear breakout, and the market structure has clearly changed from bearish to bullish.

The prices moved impulsively to the $0.060-$0.070 zone and then started to pull back to the $0.040-$0.045 zone, which is now acting as a significant support level for the market and indicating the start of an uptrend.

With the framework in place, the upside objectives neatly fall within the projected uptrend channel. Initial resistance will be at $0.070, and then at $0.085-$0.090, with the main upside objective zone at $0.120-$0.140. However, as long as the price is above $0.040, the way to these objectives is technically favorable.

Technical Indicators Suggest Continued Momentum

The Relative Strength Index (RSI) is at 61.39, while the moving average is floating around the 59.70 mark. This places the RSI firmly in positive territory, which is above the neutral 50, indicating a strong bullish run on the TradingView chart. It has not crossed the overbought territory of 70+, which means the buyers are still in control.

The MACD is also moving higher, with the MACD line currently at about 0.00133 above the signal line at about 0.00098, and the positive histogram currently at about 0.00035. The increasing size of the green histogram suggests the trend may be more than just a correction.

Why This Matters

CHZ breaking past the key support point at $0.040 signifies the beginning of a new uptrend, and it could be a sign that the price may move up to $0.120 and $0.140.

Momentum indicators also indicate that the buyers are still in control, making it a key entry point for traders looking to gain from the short and medium-term price movements.

Also Read: Chiliz (CHZ) Faces Uphill Battle as Resistance Holds Firm at $0.0380