The Chiliz token (CHZ) rallied 5% over the past 24 hours, lifting its price to $0.049 and nudging it toward the critical $0.05 resistance level. The cryptocurrency’s recent strength outpaced the broader market, with momentum indicators suggesting the uptrend could persist in the coming days.

Futures data from CoinGlass shows open interest on Chiliz contracts climbing to $80 million, the highest level since January, up from $58 million a week earlier. This rise in open interest signals that new bullish positions are being added, reinforcing a positive outlook for the token. Additionally, the funding rate turned positive on Sunday and reached 0.0043% on Tuesday, a clear sign that long‑side traders are in control.

Technical analysis on the CHZ/USD four‑hour chart points to a bullish bias. The Relative Strength Index sits at 58, indicating room for further upside, while the MACD line has crossed into positive territory with a modest histogram above zero. The next immediate hurdle is the recent swing high at $0.051; a daily close above this level could open the path to $0.057 and eventually the January peak near $0.064. On the downside, support is seen around $0.047, with deeper levels at $0.043 and $0.041 if the price falls below that point.

Overall, the combination of rising open interest, positive funding rates, and encouraging technical signals suggests that Chiliz may continue its ascent, targeting new weekly highs if buyers maintain control.