Crypto money markets are trying to recover from the impact of the FTX stock market, which significantly affects investors and general markets as a result of its bankruptcy, while there may be eventful days in Chiliz (CHZ) due to the FIFA World Cup matches.
World Cup Impact on Chiliz
The Qatar 2022 FIFA World Cup will start on November 20, 2022. Thirty-two teams that have qualified for one of the largest sports competitions in the world will compete in 64 matches. Sports service tokens such as CHZ are expected to be in the spotlight next month. On the eve of the first match, in which the Qatari football team faces Ecuador, Chiliz has already risen by 4%.
Despite the liquidity crisis that continues to hinder the recovery of the crypto currency market, CHZ has gained 8.7% in the last 24 hours. Although most cryptocurrencies have erased their October progress, Chiliz has 47.5% in total accrued earnings in 30 days. The biggest question is whether the Chiliz price will be able to maintain a positive outlook during the 2022 FIFA World Cup. The information obtained from the on-chain data reveals that the crowd is already in high expectations. Many people are discussing the project and in this case it is cited as a factor that may tend to keep the price of Chiliz higher. The increase in social interest was also reflected in the CHZ holders. addresses with 10,000 and 100,000 tokens increased from 19,862 to 21,185 on November 1. A similar pattern of Deceleration can be detected between addresses Decelerating from 100,000 to 1,000,000. This group increased from 857 addresses to 944 addresses in the same period.
From the table described, it can be seen that the Chiliz price is trending with increasing investor activity. Therefore, the continuation of the upward trend in CHZ is expected by experts, especially with the FIFA World Cup bringing sports service tokens into the spotlight. In addition, whales, which are still interested in Chiliz, can help the upward momentum. IntoTheBlock’s IOMAP model showed that there is a high Decency of buyers between $ 0.22 and $ 0.23. This support combined with the absence of significant resistance to the $ 0.30, the Chiliz price has the potential to keep the optimistic outlook intact, it said. In addition, holding on to the support provided by a rising trend line can be a very important factor for the continuation of the uptrend. In addition, a buy signal from the Super Trend indicator is still in place, while this may encourage bullish investors to hold their positions.
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