Chiliz 700% Gains Incoming | CHZ Price Prediction | CHZ Analysis & Update | Crypto News Today
If you find it useful and informative hit the like button, i really appreciate that if you are new, then do subscribe tap the bell select all notifications, and in doing so you will be kept up to date with absolutely everything that we do here at cheeky. Crypto right with that said, done that way lets get into some ta here for chile, so were gon na start things with this weekly chart guys were gon na talk about whats going on um. You know with uh, with the chart so far right. If we can see everything kind of kick started back in march of 2020, and here is where we started to see this kind of push to the upside with wave one uh we went into wave two here started out at the peak of uh wave one in August down to the low point of around october – and this actually took us into an oversold status with our stochastic and then we started to get really good traction in this third wave and we started the new year and this actually peaked out up here. Um on. I think it was uh 94.4 uh around there, so really really well and that moved from march through to um april or that sorry, through to march of 2021 right so march, 2020 march 2021 was 25 231 in gains. So some pretty good traction had been found. We obviously went into the correction um wave four here: people were calling us a bear market, but it was just a fourth wave correction and ahead of where we were going for the fifth wave.
Now that correction took a lot of people by surprise. We actually saw this come down to as low as 16.4 and so again a lot of people were selling and a lot of people were buying up the fear. Again, we take a look at that stochastic back down in the oversold area and again good traction has been made so far on the road drug to recovery, and here we can see that were now over bull in the same way that we were overbought on our Journey to the upside on way three, we actually got into this overbought area very, very quickly from wave two in the same way that we are here already in terms of wave five. We take a look at wave um one here. We actually saw this happen. A little bit later in the game before peaking out again on the way down to the oversold area, so the stochastic is again tracking what it has done previously in terms of our third wave and again, the fifth wave does have good price expectations of going up To about 3.46, this now represents 731 percent, and so we have had a bit of a move raised recently in terms of uh price action. So again, uh were lowering the amount of percentage gains left on the table at this point, um, so everythings. Looking pretty tidy here on this weekly chart good expectations of where things are going. We had a flat wave 2, sharp wave 4 uh good wave one and three and now were looking to go into a good wave.
Five lets jump down into our daily view: okay and uh. Here we can see a little bit more of whats been going on. Uh, we can also see the good run to the upside there and then obviously get the fibonacci retracement tool just here now with this one, we can obviously see that we had tracked all the way down into this lower area. We were really fighting the 236. This was an area of resistance. We consolidated down and now turned it into a good area. Support on the journey to the upside were finding resistance just a little bit closer to the 382, and this comes in at 46.1 cent. Okay, so a bit of work to be done here, but again you can see that this is an area that we had basically been concentrating on for quite some time right and basically it was flipping between resistance and support. So its uh, no surprise that this is also as an area of resistance for us. With that being said on this daily chart, though, things in terms of progress have been working quite well, and the stochastic rsi is on the rise. We are looking to go back up into the overall area in the same way that we were in this very early stage of recovery over here again getting through. Some of these areas of resistance are going to be absolutely vital towards the 618702786 area, which is this yellow box here. Getting the closed candle just above this zone is going to be absolutely vital and for us that comes in at 77.
6 cents, so a weekly close candle above 77.6 is going to be the big ball signal that takes us to the next level in terms of price Discovery and when we actually shoot this down – and we take a look at where those targets are the first target the 1.618 – this is 1.42 the 2.618. This is 2.20, the 3.618. This is 2.98 and then we peak the ball run here and as high as i can see it going as to 4.236 extension, 3.46. Okay, so lots of kind of good price discovery on the horizon here for chilis and lots of fantastic things going on with the project, so do check those out if theyre of interest to you um, but we with that being said, were not expecting these gains to Come in instantaneously theres a huge journey to go on yet weve got weeks and months ahead, and we are obviously going to be tracking some major areas of resistance and we are going to see pullbacks on the journey to the upside. Nothing moves in straight lines, and this parabolic run that you saw previously is something that we only see towards the end right so again, well see big pullbacks on that journey to the upside, and eventually we will start seeing the fomo come in and then well take Out that 4.236, in my opinion, um, but lets jump down into our hourly here, we can see whats going on most recently um with the price action.
So basically, we found a good area of support here at 41.3 were concentrating down on this, and – and we can see that were oversold so now were looking to push the price up and what well look for here is good volume right. So if we actually um take that off for a second, i think i just closed the volumes. Let me just um grab hold of the volume there. Let me see if i can find you and throw the volume back on there. We go okay, and so here we can see that basically during this correction, just here, we can see that the correction to the downside um has basically allowed us to lower the volume as well, so thats basically protected the price as we traded across this 41.73. And now what were looking for now were oversold is an increase in volume, the same kind of increase in volume that you see over here and over here, for example. So if we get good volume come in, we can take advantage of this stochastic rsi space, as we potentially now push past that 382 area of the fibonacci retracement tool. Now we are tracking, of course, this trend line to the upside. Let me just get rid of that volume here for a second while i zoom on out, so you can see whats going on with our trend line right, so our trend line has been tracking quite well, and this basically had formed this triangular wedge within side.
Here we obviously saw this break above it. Okay, so thats a good positive. But if we come back in here, this is what were looking for that breakout. Now the breakout here actually took from this bounce shall pull back and then we just went up and turned it into a good area support. So if we continue to track this, the next thing we want to do is turn that 382 into a support line. Okay, so good volume coming in take advantage of our stochastic rsi and we should be in a pretty good position when we go ahead and throw on those moving averages. Those are working for us as well and again. If we take a look at those bollinger bands, we can see were getting squeezed right now as well. So again, uh this is, could be some interesting kind of move to the upside shortly here um after we get this squeeze out of the way, and so overall everything on this hourly charts, looking pretty good, but if we are ever in doubt, we make sure we Zoom out and we check out what is going on with that weekly chart because its where the weekly chart really comes in and that you get to see the bigger picture whats going on and ultimately you know what to expect uh long term. Next, as a long term investor of chiles here, so everything looking pretty good. I wanted to give you guys a brief update on how this project has been performing.
The price targets. Havent changed, but percentage gains have. We are now looking at 700 rather than uh. The eight hundred percent, the last time i covered this video so and guys. Hopefully you have found this useful and informative. If you have then do go ahead and hit the like button, i really appreciate that if you are new to the channel, then do subscribe tap. The bell select all notifications, and in doing so you will be kept up to date with absolutely everything that we do here with this said done and out of the way, i hope everyone has a fantastic day and ill catch you all in the next one. Music.