CHZ +18.03% in 24 Hours Amid Technical Bounce from Multi-Year Lows

On SEP 1 2025, CHZ rose by 18.03% within 24 hours to reach $0.03815, CHZ dropped by 121.92% within 7 days, dropped by 265.33% within 1 month, and dropped by 5257.32% within 1 year.

The recent price action has drawn attention to short-term technical signals. Traders are monitoring a potential rebound from critical support levels, which have not been breached since late 2023. The 24-hour increase came after a period of consolidation, signaling a possible short-term reversal. The RSI indicator moved closer to oversold territory, historically a precursor to recovery in momentum-driven assets.

Technical indicators suggest the recent dip could be a buying opportunity for some strategies. The 50-day and 200-day moving averages remain in a bearish alignment, but the closing candle on the daily chart showed a bullish reversal pattern. Analysts project that if CHZ holds above $0.036 in the coming sessions, it could regain momentum toward $0.041, a key resistance level aligned with the 50% Fibonacci retracement of the previous decline.

Backtest Hypothesis

A proposed backtesting strategy for CHZ aims to exploit short-term bounces off key support zones. The model is based on a rules-based approach: entering a long position when the price closes above the 10-period moving average, following confirmation from a bullish reversal candlestick pattern. The exit rule triggers a close when the price falls back below the 20-period moving average or when the RSI crosses above 70, indicating overbought conditions. The strategy also includes a stop-loss at 5% below the entry point to manage downside risk.