Chiliz rallies 25% ahead of FIFA World Cup 2026 – $0.05 next for CHZ?

Chiliz [CHZ] has made strong gains recently.CoinMarketCap data showed that the sports chain’s native token was up 16.7% in 24 hours and 25.6% in a week. The strong bullish momentum saw surging Open Interest.Speculative traders sought to profit from the momentum, and the OI climbed 66% in just the past 24 hours. Coinalyze data showed that the Open Interest has nearly tripled from $12 million to $33 million since the 19th of December.In a post on X, popular trader Johnny Woo showed that Chiliz exhibited a buy signal on the 3-day timeframe. Will the FIFA World Cup be a catalyst strong enough to defy a multi-month resistance zone overhead?CHZ bulls attempt to crack open $0.05 resistanceSource: CHZ/USDT on TradingViewThe 1-day timeframe showed a bullish structure for CHZ. The shift occurred on the 9th of December, and another structure break occurred on the 19th of the month, which flipped the $0.34 local resistance to support.Since testing the swing low at $0.28, Chiliz has rallied a remarkable 56% in 13 days. The OBV was climbing higher over the past month as well, reflecting increased buying pressure.The bullish crossover on the moving averages also indicated a trend shift. It remains to be seen if the momentum and demand can sustain a bullish charge above $0.05.Should traders prepare to buy the breakout?From a technical analysis perspective, yes, it does seem they should. The rising volume and the structure breaks were convincing, and the momentum was on the side of CHZ bulls.The wider market context made this rally worrisome. Bitcoin [BTC] was stuck below the $90k resistance, and fear permeated the crypto markets. CHZ bulls have been down this road multiple times in 2025.Each time, the road ended with rejection at the $0.05 supply zone and a gradual reversal of the gains made.Traders’ call to action- Expect more of the sameUntil a bullish breakout past the $0.050-$0.051 area is seen, remain bearish. A weekly close above $0.051 would do much to quell these bearish doubts, but it is better to be safe than to chase a rally that turns into a reversal.Traders can look for bearish reversal signals as Chiliz token prices approach the $0.05 level. It might be risky to go short, as consolidation underneath the resistance is a possibility.Final ThoughtsThe Chiliz rally was approaching a key resistance zone that traders already in long positions can look to book profits at.Bulls looking to buy CHZ could wait for a weekly close above $0.051 for confirmation before entering.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion