CHZ Technical Analysis in Weekly Timeframe

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Now, let’s dive into this chart analysis:

Ever since March 2021, when CHZ made its all-time high at $0.94, it has been in a downtrend. The price of CHZ has fallen almost 94%, and it could get worse if it doesn't hold the initial support level at $0.0536.

Currently, the price is showing a rebound action, and if it plays out successfully, we are likely to see CHZ at $0.1253. In the long run, CHZ needs to achieve a 16x gain to reach the all-time high level.

Considering a further downfall, $0.0344 to $0.0408 is likely to be good support for CHZ.

- Primary Support/Entry: $0.0536.
- Lower Support/Good entry: $0.0344 to $0.0408.
- Primary Resistance: $0.1253.
- Invalidation point: A breakdown and close below the lower support trendline.

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