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  • Chiliz price had a massive 150% rally in the past three days.
  • The digital asset reached a new all-time high of $0.317, hitting $1 billion in market capitalization.
  • CHZ faces strong selling pressure in the short-term.

Chiliz price exploded in the past few days without any real major announcements. After a colossal 150% rally, the digital asset faces significant selling pressure in the short-term.

Chiliz price will need to see a pullback before another leg up

The TD Sequential indicator has presented a sell signal on the daily chart and a green ‘8’ candlestick on the 12-hour chart, which will most likely transform into another sell signal.  

chz price

Chiliz sell signals

If both sell signals are validated and confirmed, Chiliz price could quickly drop towards $0.20 at the 61.8% Fibonacci Retracement level and as low as $0.166 at the 50% Fib level.

 chz price

CHZ/USD daily chart

To invalidate both sell signals, bulls need to push Chiliz price above the previous high with a daily candlestick close. The next potential price target is $0.40 at the 127.2% Fibonacci level and $0.44, the 141.4% level.