Foreign media analysis suggests that after Chiliz token CHZ stabilized within its previous consolidation range, selling pressure gradually weakened, while buying support began to strengthen. As the price climbed back above the $0.0400 area, the rebound accelerated significantly, approaching the resistance zone near previous highs.

Stabilized in the range of $0.0351 to $0.0389

The article points out that CHZ had previously consolidated within the range of $0.0351 to $0.0389. Each time it approached the lower limit, buying interest increased, while selling momentum weakened.

This trend gradually strengthened from March to April. During this period, CHZ consistently raised its lows, maintaining its position above key support levels. Trading volume during the consolidation phase was also relatively stable, indicating that the market was more likely accumulating positions slowly rather than experiencing panic selling.

The rebound accelerated after it regained the $0.0400 level.

After recovering the $0.0400 area, the upward momentum of CHZ strengthened further, with prices subsequently rising towards the vicinity of $0.0495 and $0.0518. The article mentions that the RSI has risen above 60, reflecting increased bullish participation.

However, this round of gains was relatively rapid, and the pullback was relatively limited. Foreign media believe that while this near-vertical correction indicates strong buying interest, it also means that there were few intermediate support levels formed during the upward trend, and the structural buffer space was insufficient.

The area around $0.0495 has become the short-term focus.

Currently, CHZ is facing significant resistance around $0.0495. This area triggered a noticeable price pullback in late April, so market reaction is being closely watched as it revisits this level.

The article argues that if CHZ fails to break through this resistance level effectively, it may cool down in the short term, or even form a double top, with prices potentially falling back to the $0.0440 area relatively quickly. However, if it can hold above the current range and continue to break upwards, it is expected to maintain its current bullish structure.