Chiliz (CHZ) jumped 5% in the last 24 hours, trading at $0.049 and closing in on the $0.05 resistance level. The move comes as futures open interest surged to $80 million on Tuesday, its highest since January, and funding rates flipped positive for the first time in over a week.
Futures open interest climbs to $80M
Open interest on CHZ futures jumped to $80 million Tuesday, up from $58 million the previous week. That's the highest level since January. Funding rates turned positive on Sunday and climbed to 0.0043% by Tuesday, a clear sign that longs are paying shorts — meaning bulls are in control. The long-to-short ratio for CHZ hit 1.01 on Tuesday, after spending more than a week below 1.0.
Technical indicators point to room for growth
The Relative Strength Index (RSI) sits at 58, comfortably above neutral and suggesting bulls have regained control without hitting overbought territory. The Moving Average Convergence Divergence (MACD) line has turned positive, with the histogram just above zero. Both indicators point to continued upward momentum — not a screaming buy yet, but enough breathing room for a sustained move.
Key levels to watch
Immediate resistance is at $0.051. A daily close above that could open the door to $0.057 and eventually the January high of $0.064. On the downside, support sits around $0.047. If CHZ fails to hold that level, the next stops are $0.043 and $0.041.
