LIVEWe've been observing excellent growth dynamics of the asset on a global scale in recent weeks. The buyer is strong and interested in further development of the asset. After several attempts, we managed to break the descending triangle to the short side and move above its boundary. Volumes are at a statically average level, allowing for further movement. Let's turn to the long coefficient, this coefficient reflects the approximate exposure of large players to futures longs. We can see that CHZ has the fuel to move towards $0.17021 even without external liquidity injection.
We've started forming a new wave structure and within its framework we have extremely ambitious goals. Classic indicators don't hinder growth (RSI, MACD, etc.). The key is to hold the $0.09979 area, as it represents a round number area ($0.01) and is the main trend source and the only support. In case this level is broken, trend annulment and subsequent downward movement are expected.
The Volume Delta indicator signals an extremely positive outlook for the asset as the asset delta shows excellent dynamics. Within the upward movement, there's no massive capital outflow or sharply negative movements, indicating the strength of the buyer. The average direction index (ADX indicator) is rapidly decreasing, heralding good volatility for the asset, which is an important factor for comfortable conditions for further growth.
The positive directional indicator line (+DI) and the negative directional indicator line (-DI) are showing strong growth. The moving averages are moving below the chart and are likely to form a death cross on the asset. Most liquidity magnets are located above the current price of the asset.
As a result, a comfortable environment has been created for the buyer, but it is necessary to maintain the level of $0.09963 and not drop below the 786 of the ascending and 382 of the descending Fib levels.
