$CHZ
CHZUSDT
Perp
0.04582
-7.22%
Here is a brief description of the setup based on the Chiliz (CHZ) charts provided:
The price of the asset is in a correction phase after the recent local growth, resting on the support level around 0.04785. On the 4-hour timeframe, there is an upward structure, but the current momentum on the younger charts (5m, 1h) shows a preference for sellers.
The local formation of a "double top" or a cascade of lower highs indicates the risk of further decline if the level of 0.04700 does not hold. To enter a long position, it is important to wait for confirmation of a reversal or the appearance of a strong buyer from the current support zone.