RLinda ! CHZUSDT-> Breakdown or rebound?

17 ott 2022

Chiliz/Tether in terms of technical analysis is preparing for a bounce down to test the supports, below which the key liquidity zones are located.

On the global chart, we see the price rising to 0.2822, which could be considered as a trend change, but the price only makes a false-break at 0.2650, after which the global technical pullback finishes with the updating of the global lows.

Globally, the market is neutral, there are no clear signs of bears or bulls domination, because the price is in a sideways range between 0.3500 - 0.1500

Locally (on the main chart), we see the formation of the price channel, which coincides with the direction of the global trend
The price is testing the resistance zone and forming a consolidation under the level. In the long term I expect fall to the levels of 0.1741 and 0.1629.
But it is also worth considering a break-up of the channel upwards, in which case growth to the resistance level of 0.2122-0.2222 should be expected.

Regards R.Linda!