Chiliz Price Prediction – CHZ Shoots Up 4%, $1 Incoming During World Cup?

By November 19, 2022The Sandbox
Click here to view original web page at cryptonews.com

Chiliz price is preparing for a showdown ahead of the 2022 World Cup in Qatar. The world's leading blockchain and fintech provider for Sports and Entertainment token has recovered a great deal following the FTX contagion. Since support at $0.145 was respected, CHZ has sustained movement to the upside while holding firmly to an ascending trend line.

FIFA World Cup Qatar 2022

The FIFA World Cup Qatar 2022 will kick off on November 20, 2022. Thirty-two teams that qualified for one of the world's biggest sports competitions will compete across 64 matches. Sport utility tokens like CHZ are expected to be in the spotlight over the next month. Already Chiliz is up 4% on the eve of the first game pitting the Qatar football team against Ecuador.

Despite the liquidity crisis that continues to stifle the crypto market's recovery, CHZ accumulated 8.7% gains over the last 24 hours. While most cryptos erased their progress in October, Chiliz boasts 47.5% in total accrued gains over 30 days.

CHZ/USD price chart
CHZ/USD price chart

The biggest question is whether Chiliz price will sustain a positive outlook during the FIFA World Cup 2022. Insight from on-chain data reveals that the crowd is already in high anticipation. There was a major uptick in the number of mentions surrounding Chiliz (CHZ) and its related products. Many people are discussing the project – a factor that could keep Chiliz price trending higher.

Chiliz Social Volume
Chiliz Social Volume

Traders and Holders Are Buying Chiliz in Droves

The uptick in social interest has also been reflected among CHZ holders. Addresses with 10,000 and 100,000 tokens have grown to 21,185 from 19,862 on November 1. A similar bullish pattern can be spotted among addresses with between 100,000 to 1,000,000. This cohort boasts 944 addresses from 857 over the same period.

From the chart below, Chiliz price can be seen trending in tandem with the rising investor activity. Therefore, the uptrend in CHZ is expected to continue, especially with the FIFA World Cup bringing sport utility tokens into the limelight.

Chiliz Supply Distribution
Chiliz Supply Distribution

Whales who still have interest in Chiliz price could aid its bullish momentum. The IOMAP model from IntoTheBlock reveals a high concentration of buyers between $0.22 and $0.23. This support, coupled with the absence of significant resistance to $0.30, Chiliz price has the potential to keep the optimistic outlook intact.

Chiliz IOMAP model
Chiliz IOMAP model

Chiliz price dodders at $0.24 at the time of writing. Holding onto support provided by an ascending trendline is crucial to the continuation of the uptrend. A buy signal from the Super Trend indicator is still in place and may encourage bullish traders to hold on to their positions.

CHZ/USD four-hour chart
CHZ/USD four-hour chart

A break and hold above the first take-profit target at $0.26 (TP-1) is necessary for the expected move beyond $0.30 (TP-2). On the downside, bearish traders will wait to activate their orders as Chiliz breaks and stays below the trend line. Such a move could culminate in declines to $0.20 and the major support at $0.15, respectively.

Presales Promising Massive Gains

Dash 2 Trade (D2T)

Dash 2 Trade is one of these promising presales. This platform enables the creation and testing of trading strategies for traders and investors to make informed market decisions. Dash 2 Trade is designed to take your crypto trading to the next level.

D2T is an ERC-20 token on the Ethereum Network dedicated to powering the Dash 2 Trade platform. This token allows access to crypto analytics, signals and social trading features needed to excel in the market.

Dash 2 Trade is currently in the third stage of its presale and selling for $0.0513. The price of D2T will jump to $0.0533 in the next presale stage ahead of its listing on exchanges.

RobotEra (TARO)

The founders of RobotEra are creating a platform similar to the popular metaverse crypto project, the Sandbox. However, they are initially selling TARO, a native crypto token, to power the in-world economy. Later they will sell land parcels and robot characters as NFTs.

Players will have access to custom-built tools to create assets within the game, meaning no coding experience would be required when building in the metaverse.

TARO's presale is underway and selling for $0.020. Within the first two weeks of the presale, the team has raised over $132,000. The price will, however, increase to $0.025 in the next stage.

Calvaria (RIA)

Calvaria is a crypto project aiming to be a frontrunner in the race to bridge the gap between the "real world" and crypto. The project involves speeding up crypto adoption via a play-to-earn battle card game.

The team hopes to be competitive within the Web2 gaming market by creating two game versions. Users will earn extra tokens by staking TARO on the blockchain. Calvaria's presale is 88% complete after raising $2.1 million.

All Today's Crypto News In One Place