CHZ is the best performer amongst the top 100 cryptocurrencies by market cap after adding more than 12% to its value today.
The cryptocurrency market is starting the week in a negative fashion. The total crypto market cap stands at $1 trillion, down by more than 1% in the last 24 hours.
CHZ, the native token of the Chiliz ecosystem, is up by more than 12% in the last 24 hours, making it the best performer amongst the top 100 cryptocurrencies by market cap.
CHZ’s rally comes after ChilizX, the recently revamped Chiliz exchange, announced that it had added Fan Token Logos to the Chiliz𝐗 web. This means that users can now find all available Fan Tokens faster and enjoy the improved user interface.
Chiliz𝐗 update 📢
We have added Fan Token Logos to Chiliz𝐗 web 🌐 Locate all available Fan Tokens faster and enjoy the improved UI 😀
Let us know what you think of the update 👇
⚡️ $CHZ pic.twitter.com/xpuRaZ6QRw
— ChilizX – Powered by $CHZ 🌶️ (@ChilizX) October 28, 2022
Bitcoin, the world’s leading cryptocurrency by market cap, continues to trade above $20k per coin despite losing more than 1% of its value today.
Ether has also maintained its price above the $1,500 psychological level and has lost more than 2% of its value in the last 24 hours.
Key levels to watch
The CHZ/USD 4-hour chart is bullish, as Chiliz has been performing well over the last 24 hours. The technical indicators show that Chiliz is outperforming the broader cryptocurrency market.
The MACD line is above the neutral zone, indicating that Chiliz is currently in a bullish mode. CHZ has added more than 24% to its value over the last seven days.
The 14-day relative strength index of 68 shows that CHZ could be heading to the overbought region if it can sustain its current momentum.
At press time, CHZ is trading at $0.22243 per coin. If the bullish trend continues, CHZ could surge past the first major resistance level at $0.2448 before the end of the day.
With the support of the broader cryptocurrency market, CHZ could move past the second major resistance level at $0.2659 for the first time since September.