Recent weeks have seen a dramatic increase in social mentions of Chiliz, data compiled by LunarCrush show. Its token\u2019s\u00a090-day high made it big\u00a0in the latest\u00a0social mentions.<\/p>\n
Market insights tracker LunarCrush cited this figure (9.46k)\u00a0as one indicator to keep an eye on when considering an investment in Chiliz.<\/p>\n
The approaching 2022 FIFA World Cup may help explain the increase in social media buzz. This is due to the fact that the CHZ token has a practical application in the realm of sports.<\/p>\n
Will the increase in social media references lead to an upswing\u00a0with less than a month until\u00a0the start of the much-hyped global sports spectacle?<\/p>\n
As of this writing, CHZ is trading at $0.193980<\/a>, down 9.5% in the last seven days, data from Coingecko show, Friday.<\/p>\n If you are looking for interesting projects to invest in, watch out for social activity eruptions, especially before price.<\/p>\n E.g Keep a close eye on #chiliz<\/a>. $chz<\/a> social mentions measured daily hit 9.46K, the highest point in the last 90 days!<\/p>\n Insights: https:\/\/t.co\/S4Hd87jv4R<\/a> pic.twitter.com\/wLXeapUueD<\/a><\/p>\n \u2014 LunarCrush (@LunarCrush) October 12, 2022<\/a><\/p>\n Chiliz Jargon And All The Talk<\/p>\n Data provided by CryptoQuant shows that CHZ\u2019s foreign exchange reserves have decreased by 0.72% over the last seven\u00a0days.<\/p>\n The fact that investors appear to be buying CHZ with the intention of keeping it for the long term is a very optimistic indicator.<\/p>\n The high number of persons depositing to exchanges , which can be observed with the exchange depositing transactions tool, more than makes up for this.<\/p>\n\n Chart: TradingView<\/a><\/p>\n Previous and current price movements exhibit a head-and-shoulders harmonic pattern, which typically occurs just prior to a trend reversal. In both intraday and 4-hour periods, the coin is currently experiencing a significant free fall.<\/p>\n Chaikin\u2019s money flow indicator likewise deteriorates, falling to -0.34 as well. A sign that bears are dominant in the current time frame. The bull-bear strength signal is negative, and bears are currently attacking the market.<\/p>\n With the present speed of the wild decline, a trading day close below the 61.80 Fibonacci level is anticipated.<\/p>\n Can CHZ Still Spice Up The Situation?<\/p>\n CHZ is presently in one of the worst possible situations for a cryptocurrency. With the $0.28 resistance displaying strength and the $0.18 support line having been breached, a decline towards the key $0.14 level is expected.<\/p>\n However, if the 61.80 Fibonacci level mitigates the present slump, the $0.18 or $0.21 immediate resistance levels could be tested or broken. Things don\u2019t seem to look good for the\u00a0bulls at this moment.<\/p>\n Long-term investors are in trouble as this decline has broken the ascending triangle pattern. The 20-day to 100-day DEMA all support this tendency. As the FIFA World Cup approaches, a trend shift may occur during the next few weeks.<\/p>\n CHZ market cap at $1.16 billion on the daily chart | Featured image from The Coin Republic, Chart: TradingView.com<\/a> <\/p>\n Recent weeks have seen a dramatic increase in social mentions of Chiliz, data compiled by LunarCrush show. Its token\u2019s\u00a090-day high made it big\u00a0in the latest\u00a0social mentions.<\/p>\n Market insights tracker LunarCrush cited this figure (9.46k)\u00a0as one indicator to keep an eye on when considering an investment in Chiliz.<\/p>\n The approaching 2022 FIFA World Cup may help explain the increase in social media buzz. This is due to the fact that the CHZ token has a practical application in the realm of sports.<\/p>\n Will the increase in social media references lead to an upswing\u00a0with less than a month until\u00a0the start of the much-hyped global sports spectacle?<\/p>\n As of this writing, CHZ is trading at $0.193980<\/a>, down 9.5% in the last seven days, data from Coingecko show, Friday.<\/p>\n If you are looking for interesting projects to invest in, watch out for social activity eruptions, especially before price.<\/p>\n E.g Keep a close eye on #chiliz<\/a>. $chz<\/a> social mentions measured daily hit 9.46K, the highest point in the last 90 days!<\/p>\n Insights: https:\/\/t.co\/S4Hd87jv4R<\/a> pic.twitter.com\/wLXeapUueD<\/a><\/p>\n \u2014 LunarCrush (@LunarCrush) October 12, 2022<\/a><\/p>\n Chiliz Jargon And All The Talk<\/p>\n Data provided by CryptoQuant shows that CHZ\u2019s foreign exchange reserves have decreased by 0.72% over the last seven\u00a0days.<\/p>\n The fact that investors appear to be buying CHZ with the intention of keeping it for the long term is a very optimistic indicator.<\/p>\n The high number of persons depositing to exchanges , which can be observed with the exchange depositing transactions tool, more than makes up for this.<\/p>\n
\nDisclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":"