Chiliz Price Prediction for 2024: Will It Achieve $1?
Chiliz is one of the leading blockchain-based fintech services providers for mainstream sports/entertainment platforms. The primary goal of this platform is to gain traction among mainstream consumers by offering a currency alternative for blockchain-based products/services.
The platform has its native token, CHZ, an Ethereum-based ERC-20 token. The protocol benefits traders by allowing them to buy NFTs (non-fungible tokens) in the Socio fans token marketplace. This platform is also BEP-2 compatible.
Chiliz Price Today
Over the last 24 hours, Chiliz (ChZ) has experienced a rise in trading volume, with an average daily volume of $68.559,249. This indicates a spike in activity, a significant increase from the day before.
The market capitalization of Chiliz, derived from multiplying the token price by the circulating supply, is $903.630,465. At present, the market is trading 8.9 billion Chiliz tokens.
The dates of the highest and lowest Chiliz prices ever recorded are March 13, 2021, and September 28, 2019. At the moment, Chiliz’s market capitalization is $903.6 billion.
Price Fluctuation of Chiliz
Chiliz is now trading at $0.10 and is ranked 76th overall in the cryptocurrency ecosystem. The entire market capitalization of CHZ is 8,888.290.622, while its total circulation supply is $891.473.701.83.
The value of CHZ has increased by $0,0006 during the past day. With a gain of 1,21% during the last week, CHZ has demonstrated a good trend.
Chiliz has grown significantly in the past month, increasing by 17.95% and adding an average value of $0.02. Because of its quick rise, CHZ has the potential to grow further and turn into a reliable asset. Buying CHZ at this moment may be a wise investment.
Technical analysis of chiliz
The price is lying above the horizontal support zone. We can expect a bounce upward. On the other hand, If it breaks down the support zone, it can go downward.
Technical indicators suggest a strong buying sentiment, Both the Stochastic Oscillator (STOCH) and Stochastic RSI (STOCHRSI) are in the overbought zone, indicating potential upward momentum.
The Relative Strength Index (RSI) stands at 60.952, signaling a buy opportunity. The Average Directional Index (ADX) and Moving Average Convergence Divergence (MACD) also signal potential buying opportunities.
Other indicators, including the Commodity Channel Index (CCI), Highs/Lows, Ultimate Oscillator, Rate of Change (ROC), and Bullish over Bear Power, all point towards a favorable buying scenario despite the Williams %R being overbought.
Price Prediction of Chiliz
Our estimated forecast of Chilliz in February 2024 is that the average Chiliz price will be $0.223. The lowest and highest Chiliz monthly prices will probably be $ 0.100 and $0.345, respectively.
In March 2024, the cost of Chiliz would be roughly $1.00. The minimum and maximum prices associated with trading Chiliz are $0.073 and $0.315, respectively.
Recent Collaboration
Recently, Chiliz collaborated with Infstones cl, an Oud-based company that provides cloud management services and security solutions for blockchain infrastructure.
Endnote
Chiliz has the potential to perform better in volatile markets. Whales hold 68.81 percent of the assets, followed by retailers (16.85%) and investors (14.34%). The assets have an average tenure of 1.80 years, which makes them a reliable long-term investment.
With the increasing ownership by whales and retailers, CHZ is expected to hit a new high of around $0.178. Emerging competition and an upward trend are two factors that could push CHZ down to a minimum price of about $0.078. On the other hand, CHZ’s average trading price can be as low as $0.132 because of a straight-line price projection.
