The World Cup just kicked off and the native token of the sports-themed cryptocurrency ecosystem, Chiliz, has dropped 15% in value over the past 24 hours. This is not the kind of news traders and investors want to read about. The long-awaited World Cup clearly had no compensating effect on the prevailing economic conditions. Here’s A Quick Rundown Of How CHZ Is Doing: – Readily available data indicates a strong bear market hindered CHZ’s rally – Near 1:1 ratio of long vs short positions shows cautious support for the token – Price continues to fall; bulls should defend at $0.1664 and $0.1554 The token’s value has dropped significantly as of this writing. CoinGecko and CoinMarketCap report that CHZ has dropped another 9% since yesterday. The token is trading at a red candle price of $0.1780, which is also reflected in the charts. CHZ’s rehabilitation may be more challenging now that the World Cup has become controversial over multiple issues. Related Reading: Avalanche TVL Hits 271 Million AVAX, Following Weeks Of Setbacks Chiliz May Come Up With A Surprise While CHZ is expected to rise, the to ..
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