Chiliz (CHZ) price fell sharply on Thursday, with a more than 15% plunge sending prices to lows of $0.046.
Losses for the token comes as Bitcoin price drops sharply to impact top altcoins.
Upbeat sentiment around CHZ remains amid roadmap plans and World Cup 2026 anticipation.
The CHZ token, native to the leading blockchain platform powering fan engagement in sports, saw its value tumble as the broader altcoin market faced a fresh downturn.
Chiliz traded to its intraday lows as Bitcoin dropped to under $85,000 again.
BTC’s sharp plunge has altcoins in peril mode, with Ethereum down to $2,800, XRP to $1.79, and Solana to $117. CHZ ranked as one of the biggest losers in the top 100 by market cap.
CHZ dips after recent surge
The Chiliz price enjoyed a robust 30% weekly rally leading into late January, with a sudden pump outpacing a slumping global crypto market. CHZ pumped to near $0.06.
In reality, the upswing can be traced back to the momentum of mid-December 2025, when bulls shattered the $0.035 resistance level.
The uptick coincided with heightened anticipation for the FIFA World Cup 2026 set for the summer in the United States, Mexico, and Canada.
Chiliz’s Fan Token ecosystem, which powers tokens for clubs like FC Barcelona and Juventus, has positioned itself as a key blockchain partner.
Event-driven sentiment and Chiliz Chain 2.0 upgrades bolstered bulls. However, concerns over fan attendance amid US visa bans and boycott calls have slightly dampened the outlook.
Sharp declines come amid this, with widespread profit-taking by short-term holders and mounting weakness across altcoins, exacerbating the situation.
Chiliz price forecast: any bullish catalysts?
The current market conditions could allow bears to target the $0.040-$0.035 support zone.
However, beyond its recent volatility, Chiliz’s price may ride broader tailwinds.
The FIFA World Cup in June-July 2026 looms as a centerpiece, while upgrades and regulatory developments could ignite further Fan Token launches.
Chiliz’s “2030 Vision” roadmap, which emphasizes DeFi integrations and institutional tie-ups, also adds to the potential bullish catalysts.
The optimism for Chiliz also lies around the implementation of a transaction fee burning model similar to Ethereum’s EIP-1559.
With this mechanism, a portion of CHZ is burned every time users trade Fan Tokens, mint real-world assets, or transfer a media rights asset.
Users pay gas fees using the CHZ token, and a reduction in supply can significantly impact prices in the long term.
Technically, a rebound above the $0.050 psychological level will hint at resilience. A break above $0.064, the token’s January 17 peak, could bring $0.10 into view.
The MACD’s upward histogram and OBV strength suggest accumulation may persist.
