Is It Too Late to Buy Chiliz? CHZ Price Blasts Up Again as New Meme Coin Approaches Exchange Listings

cryptonews.com:

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.

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,