Chiliz [CHZ] eyes $0.057 after 17% rally – But a KEY hurdle still remains

Chiliz [CHZ] extended its bullish run for the second straight day. The latest gains suggest room for further upside, but past price action at this level indicates it could be a decisive turning point for CHZ.

At press time, CHZ was trading at $0.04275, up 17.11% over the past 24 hours. During the same period, it also witnessed strong participation from traders and investors, as evidenced by a significant surge in trading volume of over 360% to $177.20 million.

While this gain in CHZ’s price is notable, it is not occurring in isolation, as the broader crypto market has also shown signs of recovery, rising by over 1.25% during the same period.

CHZ eyes 30% gain

Looking at the daily chart, CHZ’s 17.11% gain appears to have pushed the asset close to a breakout from a bullish price action pattern. According to the chart, the asset has formed a textbook-style inverted head and shoulders pattern, with the price approaching a breakout above the neckline at the $0.0445 level.

However, the $0.0445 level has a strong history of downward price reversals since the beginning of February 2026, with the price reversing more than four times from this level.

Based on past performance, if CHZ’s upward momentum sustains and it breaks out above the $0.0445 neckline, it could witness a significant 30% price surge, potentially reaching the $0.05786 level. However, a reversal remains possible if the price fails to breach this key level.

Despite the notable jump in CHZ’s price, the indicator that measures directional strength, the Average Directional Index (ADX), stood at 16.45 as of writing, below the key threshold of 25, indicating weak trend strength in the asset.

Notably, a crypto analyst noted that CHZ has broken out of a five‑year descending trendline resistance, with the current structure confirming the breakout. The analyst predicts this move could drive a tenfold rally, pushing the price back to and above $0.40.

CHZ’s bullish investors and traders’ sentiment 

Data from the derivatives tool CoinGlass also suggests that market participants, both long-term and short-term holders, appear to be following the same bullish trend.

CHZ’s Spot Inflow/Outflow metrics reveal that, over the past five days, long-term holders have continued to withdraw tokens from exchanges. Additionally, over the past 48 hours, exchanges have recorded an outflow of $175K worth of tokens, hinting at potential accumulation.

On the other hand, the Exchange Liquidation Map shows that intraday traders are heavily betting on $0.0408 on the lower side and $0.0442 on the upper side.

At these levels, they have built approximately $1.14 million worth of long-leveraged positions and $525K worth of short-leveraged positions, indicating that traders are anticipating further price upside.

Final Summary

• The 17.11% jump in CHZ has pushed the asset near the neckline of a bullish pattern, where a breakout could bring an additional 30% gain.
• An analyst predicts that the CHZ price could increase 10x from its current level, while CoinGlass data reveals that both investors and traders are bullish on the asset.