Chiliz (CHZ) Forms Rounding Bottom Pattern As Market Eyes Potential Return to $0.50 Resistance

CHZ price declined from $0.16 in March to $0.054 by February 21, 2025, amid fluctuating trading volumes.

Trading volume peaked at $700 million in January, dropping to $41.73 million by February, indicating reduced market activity.

CHZ formed a rounding bottom pattern in early 2025, with potential to retest historical resistance levels above $0.50.

Chiliz has recently experienced a price pullback, occurring amid notably low trading volume. This movement follows a period of strong positive volume surges coupled with a prolonged phase of price consolidation.

Price Action and Market Behavior

According to Javon Marks's observations, CHZ price peaked above $0.80 in 2021 before entering a prolonged downtrend with lower highs and lower lows. The asset experienced multiple recoveries but maintained a declining trend through 2024. A rounding bottom pattern formed in early 2025, with the price near $0.014

Source: Javon Marks(X)

Market data reveals that Chiliz has undergone substantial consolidation, which often precedes notable price shifts. The recent positive volume surges, followed by a low-volume retracement, indicate possible preparation for a price reversal

Historical data shows that CHZ reached price levels above $0.50 during previous bullish runs. The current market structure suggests that prices could revisit those levels, representing a potential increase exceeding 900% from current valuations.

Volume Trends and Market Sentiment

Chiliz’s pullback occurred with exceptionally low trading volume, following significant volume inflows. Low-volume pullbacks, after substantial positive volume spikes, are often scrutinized for their potential to lead to price recoveries. The preceding surge in positive volume may indicate earlier accumulation from market participants, while the current decline in volume suggests a pause in aggressive selling.

CHZ previously reached the $0.50 price range, marking a key historical resistance level. The market conditions show patterns similar to earlier phases that led to notable price movements. If similar trends persist, CHZ could retest those historical price levels.

According to market data, CHZ has recorded varied market movements over time. Coinglass data indicates that CHZ price reached $0.16 in early March, then declined steadily to $0.054 by February 21, 2025

Source: Coinglass

Trading volume peaked at $700 million in late January but decreased to $41.73 million by February. Price volatility increased between March and June, followed by a prolonged downtrend. Brief price recoveries occurred in April, June, and November amid fluctuating volumes.