Source: Santiment
Likewise, the CHZ volume was in a comparable spot with the MVRV ratio. According to Santiment, the token’s volume had lost 24.32% of its value from the previous day. This meant that the number of transactions that had passed through the Chiliz network hadMore unfortunate events seemed to have spread around the Chiliz ecosystem. At press time, engagements on the NFT side could not make up for the price and volume dump.
between the exchange inflows and outflows. With the exchange inflow at 620,000, it meant that there was a high possibility of selling pressure. However, the slight difference between the in and out supply could imply a chance of neutralizing the sell-offs.As per indications on the four-hour chart, CHZ’s chances of respite were minimal due to the status of the Directional Movement Index . Based on the DMI, CHZ was likely to remain in the red. This was because the Average Directional Index at 45.
A glance at the Exponential Moving Average also indicated that the CHZ looked destined for more fall. This was because the 50 EMA was positioned above the 20 EMA . Hence, the decrease was unlikely to halt in the short term.Subscribe to get it daily in your inbox.
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