This Bullish Coin is Right in the Middle of Our Buy Zone

After falling nearly -92% from its highs back in May of this year, Chiliz (CHZ) has been on a steady march higher, gaining more than +200% from its May lows, and outperforming most coins tradeable on Coinbase.

With that said, in recent weeks the coin has fallen more than -40%, taking the coin right into potential support – and now our signals are now indicating the coin as a buy!

Take a look:

We’re targeting a push higher that could take CHZ to new swing highs, more than +50% away from current prices as I speak…

And as for where we’re wrong, prices at or below CHZ‘s green support zone from about $0.15-$0.18 – 10% to 20% below current prices – could mean more selling to come.

As we know, old resistance once broken above tends to act as support, and our green zone lines up right where CHZ broke out to the upside back in August, which has acted as support ever since… To top it off, right in the middle of this zone lies CHZ‘s flat 200-day moving average (MA) – a historically significant support and resistance level for the coin.

As always, if CHZ breaks below our green zone, we have the option of taking an early exit. However, I want to point out that CHZ has even more support right below at about $0.10, -40% below current prices…

This means that even if CHZ does fall below our first zone, we could have the opportunity to instead double down with the right set of additional bullish signals, so stay tuned!

For now, here’s what to do for our latest trade entry…

Action to Take: Using your Coinbase or Binance account, buy Chiliz (CHZ) at the market. Close the entire position at 50% profits- or when you hear from me.

Happy trading,

Tom Gentile
America’s #1 Pattern Trader

Topics: Chiliz (CHZ)