The cryptocurrency market is buzzing once again, and this time it’s Chiliz (CHZ) stealing the spotlight. Boosted by the excitement surrounding the FIFA World Cup 2026, Chiliz has surged in value, attracting both seasoned investors and curious newcomers. But is this bullish run sustainable?
Chiliz Gains Momentum
In the past week, Chiliz has witnessed a remarkable uptick, with its native token rising nearly 25.6%, as per data from CoinMarketCap. Over the last 24 hours alone, the token climbed another 16.7%, signaling strong market sentiment. The bullish rally also triggered a surge in speculative trading, with Open Interest (OI) soaring by 66% within just 24 hours—climbing from $12 million to $33 million since December 19, 2025, according to data from Coinalyze.
This surge has been backed by tangible market activity. The On-Balance Volume (OBV) metric has steadily climbed over the last month, reflecting strong buying pressure from investors. Technical indicators like moving averages and structural breakouts have also confirmed the bullish sentiment surrounding this altcoin.
Understanding the Catalysts
The ongoing rally is closely linked to the FIFA World Cup 2026, a global event known for boosting fan engagement, merchandise sales, and partnerships tied to sports-related industries. Chiliz, a blockchain platform focused on sports and entertainment, stands out for enabling fan tokens that connect sports teams with their followers. This positioning makes it a key player in capitalizing on World Cup excitement.
Popular trader Johnny Woo, in a recent post on X (formerly Twitter), highlighted a promising buy signal for Chiliz based on a 3-day timeframe analysis. However, it’s essential to note that sustained momentum depends on CHZ breaking the crucial $0.05 resistance level, which has historically served as a strong barrier for the token.
Key Levels to Watch
An analysis of the 1-day timeframe shows Chiliz forming a bullish structure since December 9, 2025. Another structural break on December 19 flipped the $0.34 resistance into a support level, reinforcing the current rally. That said, traders are advised to approach the $0.05 mark cautiously, as previous attempts to breach this level have resulted in reversals.
A weekly close above $0.051 would be the ultimate confirmation of a bullish breakout, alleviating fears of a pullback. Until then, consolidation below resistance remains a possibility, and traders should keep an eye out for bearish reversal signals in this zone.
Considering the Risks
While Chiliz has shown promising technical indicators, the broader market remains a variable. The cryptocurrency market is still overshadowed by Bitcoin [BTC], which struggles to break the $90K resistance, spreading caution among investors. Although Chiliz bulls appear to have sturdy momentum, market conditions can shift rapidly, warranting careful strategy and research.
Make the Most of This Opportunity
If you’re new to cryptocurrency investments or looking to enhance your trading portfolio, consider tools like Coinbase for buying and managing digital assets securely. Additionally, staying informed with market data and keeping a close watch on major events like the FIFA World Cup can help guide your investment decisions effectively.
While exciting, all trading carries risks. Always conduct thorough research or consult a financial advisor before making investment decisions.
