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The Chiliz price has increased by 19% in the last 24 hours trading at $0.1346 as of 7:18 PM EST on a 381% increase in trading volume to $265 million.
The spike appears to have been caused by news that Naver Pay, a popular mobile payment service, is teaming up with Chiliz, a sports and entertainment blockchain company, to improve its global services using Web3 innovations.
The partnership will boost CHZ in the important South Korean market, where Naver Pay is used by the majority of the population. It has 33 million registered users and 18 million daily users in the country.
Together, they plan to accelerate the fan token ecosystem on the Chiliz Chain, develop exclusive ticketing and payment solutions, and host a variety of fan-focused events.
Chiliz price signals a bullish trend reversal
Chiliz price is showing a gradual uptrend after dropping from $0.1668, creating a strong support zone for buyers to regroup and recoup any losses. GeckoTerminal data.
The Chiliz price reversal with bullish candles at the $0.1043 level has given buyers a chance to start a steady rally, pushing the price higher with the aim of reaching the March 13 high of $0.1672.
CHZUSDT analysis. Source: Tradingview.com
The 50- and 200-day simple moving averages (SMAs) are currently below the price, confirming that there is upside momentum.
The Relative Strength Index (RSI) has consolidated around the mid-50 mark, but is now showing signs of a recovery and currently sits at 57. With greater momentum, the RSI could climb into the overbought zone, indicating intense buying pressure.
Furthermore, the MACD signals a bullish trend with the blue line crossing the orange line, both positioned above the neutral level. The histogram also shows positive momentum above the neutral position, reinforcing this upward move.
Chiliz Price poised for an upward move
Meanwhile, Chiliz price bulls appear poised for further upside. With a strong support zone at $0.1043, bulls have an opportunity to potentially push the price back up to $0.1672 in the coming weeks.
However, if the bears regain control, they could force the bulls to retreat towards the $1.1123 support level, which coincides with the 200 SMA.
The best alternative gaming crypto
As Chiliz price gears up for a bull rally, many investors are also pouring money into it 5eScape (5SCAPE), which has raised more than $6.25 million in pre-sales.
We’ve reached $6.0 million 🚀, VR is a revolution and we $5Scape as a community are the trendsetters 🎉
Thanks to YOU, our amazing community! 🙌 💖
Get ready for next-level gaming adventures and VR innovations as we embark on this exciting journey together! Let’s make magic happen… pic.twitter.com/RvUmUyU8ws
— 5e Scape (@5th_scape) May 21, 2024
5SCAPE will revolutionize the gaming industry by combining blockchain technology with virtual reality (VR), creating the first-ever AR/VR mixed-reality crypto platform. The team is committed to developing countless VR games that will work seamlessly on popular VR headsets such as Oculus Rift and Meta Quest 3.
🚀 Mixed Martial Arts fans, rejoice! Dive into the adrenaline-fueled world of MMA Cage Conquest from 5thScape on Meta!
Experience intense battles, immersive arenas and strategic training.
Use code “5THSCAPESUBSCRIBER-80F935” for 99% off!
To thank our incredible community,… pic.twitter.com/kM3BEn48tP
— 5e Scape (@5th_scape) May 14, 2024
As part of 5SCAPE ecosystemToken holders will get exclusive access to premium VR content and devices, including their own VR headset and gaming chair.
An opportunity for passive income
A staking system offers rewards such as in-game benefits, lifetime free access to the 5SCAPE ecosystem, early access to new VR content and community interaction.
5thScape’s play-to-earn feature also allows you to earn passive income by playing Web3 games such as MMA Cage Contest, Thrust Hunter, Immersive Kickoff, and Archery Master.
With 5SCAPE you enter a world where your imagination is the only limit. This is what awaits you:
Free lifetime access 🎁: Say goodbye to subscriptions! Enjoy an endless library of curated VR content that evolves with your tastes.
Exclusive in-game benefits 🔒: with… pic.twitter.com/AiPTd6NWer
— 5e Scape (@5th_scape) May 9, 2024
YouTube analyst Crypto Boy says 5SCAPE has the potential to rise 100x at launch.
With the listing price now set at $0.01, purchasing 5SCAPE tokens for $0.00376 will yield a gain of almost 166% before launch.
To buy 5SCAPE on the official website here using ETH, MATIC, USDT or BNB.
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