Chiliz Surges 5% in the Last 24 Hours, Bulls Control Market 🚀

Key takeaways:

1. CHZ is up 5% in the last 24 hours and approaching $0.05 resistance level.

2. Derivatives data shows bulls are currently in control.

Chiliz outperforms broader crypto market, with a 5% gain over the past day. Notably, its performance stands out among top cryptocurrencies. The momentum indicators remain constructive, suggesting CHZ could extend its rally.

Derivative data supports this bullish outlook:

- Open Interest (OI) at exchanges surged to $80 million on Tuesday, up from $58 million in the previous week.

- Funding rate for CHZ turned positive and is currently around 0.0043%, favoring bulls.

- Long-to-short ratio for CHZ reached 1.01, indicating a bullish market sentiment.

If this trend continues, expect further gains towards key resistance levels at $0.051 (recent swing high) and potentially reaching the January high of $0.064.

Are you bullish on Chiliz before it faces potential resistance? 👇

#CHZ #DerivativesMarket #CryptocurrencyMarket