CHZ MARKET STRUCTURE UPDATE 📊
I'm tracking $CHZ closely as it's hovering near the mid-range of $0.03688, with the current price representing a 0.01% decrease from the higher end of the range. The volume profile indicates a slight decrease in buying pressure, which could lead to a retest of the support zone of ~$0.03528. $CHZ shouldn't have issues holding above this level, with a potential target of $0.03820, representing a 4.5% increase from current prices if $CHZ can sustain above $0.03720.
It's a relatively narrow range for $CHZ, with the 24-hour high and low indicating a lack of conviction from buyers and sellers. I'm watching for a clean breakout above $0.03750, which could lead to a test of the resistance zone of ~$0.03847.
The funding rates for $CHZ are relatively neutral, which suggests that the current price action is driven by spot traders rather than leverage. I'm monitoring the order blocks and liquidity pools for $CHZ, looking for signs of accumulation or distribution that could impact the price action.
$CHZ