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What is Chiliz (CHZ)?
Chiliz is a digital currency used in the sports and entertainment sector, created by Malta-based Fintech provider of the same name, which operates a blockchain-based sports entertainment platform and interacts with fans, Socios. With Chiliz, fans have the right to participate in the management of clubs, games, tournaments, events,… and voting for big names in the sports industry such as FC Barcelona, Paris Saint-Germain and Manchester City. The founder and CEO of Chiliz is Alexandre Dreyfus, who has over 20 years of experience in developing web-based companies as well as Winamax and Chilipoker online poker projects.
Chiliz (CHZ) leads the list of the 100 tokens with the strongest growth
While most cryptocurrencies are returning to bearish territory, Chiliz (CHZ) has seen significant price gains both on the day and in the last week. Over the past seven days, the price of Chiliz tokens has increased by 46.59%, leading the ranking of the 100 assets with the largest growth during the same period. At the same time, the token's daily chart is showing an increase of 6.98%, currently trading at $0.2231, helping Chiliz reach the second position in terms of daily growth, right behind Celsius (CEL), which has gained 17.87% over the past 24 hours. 
The next resistance is $0.41
Chiliz (CHZ) has broken out of long-term and short-term resistance levels, the number of waves indicates that a bottom level has been reached. CHZ has fallen below the descending wedge since reaching an ATH of $0.94 in March 2021. The downtrend resulted in a low of $0.081 in May 2022. Descending wedges are considered a bullish pattern, forecasting a breakout in the next cycle. CHZ broke out on August 1 and so far has reached $0.225 on August 17. Moreover, the weekly RSI broke out of the descending resistance line and moved above the 50 level. This is considered a sign of an uptrend, preparing for a breakout. If the uptrend continues, the nearest resistance level will be $0.41. This is a retracement resistance level of 0.382 Fib. 
CHZ price breaks out
The daily chart supports the continuation of the upward trend, as the price has broken out of the long-term descending resistance line since October 2021 Similar to the weekly timeframe, the daily RSI has moved above 50, preparing for a breakout. In the daily timeframe, the nearest resistance zone is $0.26. >>> See also: Binance update 2022 subscription guide 
Analysis of the number of waves
Technical analyst @footballelixir tweeted a chart of CHZ, saying that the price has started a long-term year wave and will eventually take it to the ATH level. 
Long-term data shows that CHZ has just completed the fourth of five long-term upward waves, which began in March 2020. If the above prediction is correct, it has now started the annual wave, which is expected to bring the price to the ATH level. A fall below the low of wave four at $0.081 will invalidate this particular number of waves. >>> See also: Easiest Bittrex usage & subscriptions for newbies 2022 
CHZ price has completed a short-term 5-wave bullish cycle, where a 1:5 wave has a 1:1 ratio. Since wave three has been extended, it is possible that the entire upward movement is over. If so, CHZ has now begun the A-B-C structure calibrated. Fib retracement support levels of 0.5-0.618 in the range of $0.13 – $0.15 are likely to provide support and end the correction. 
Why is Chiliz (CHZ) growing so strongly?
CHZ prices grew strongly amid Chiliz awaiting the Pequin update in phase 5 of the Scoville test network. https://twitter.com/Chiliz/status/1559178098146480130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1559178098146480130%7Ctwgr%5Eb13be0a179b3e5c1618d7286cf9cf9789e1ffd10%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ffinbold.com%2Fchiliz-chz-leads-top-100-pack-in-the-last-week-as-crypto-market-turns-red%2F Besides, founder and CEO Alexandre Dreyfus shared the news about the platform securing a regulatory agreement to operate on Italian territory, scaling up market and introduce "even more important consumer protections". https://twitter.com/alex_dreyfus/status/1560180258917306373?s=20&t=dfZuzbdk2xJfBPBJ4AABDQ
