CHZ investors must keep a close watch on the FTX acquisition for these reasons

With the market plagued by a

With less buyers’ conviction to accumulate, sellers controlled CHZ on a daily chart. The news of Binance’s proposed acquisition of competition FTX caused CHZ to break out of a rising wedge it had formed since 21 October. Between 21 October and 8 November, CHZ’s price rallied by over 55%. The sharp fall in CHZ’s price also caused key indicator Relative Strength Index , to fall below its 50-neutral spot. At press time, the RSI was pegged at 43.72 in a downtrend. Also in a downtrend was the alt’s Money Flow Index as it inched closer to the 50-neutral region at 55.26.

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