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Chiliz has emerged as one of the best-performing cryptocurrencies among the top 100 by market capitalization on June 2nd. The token is up 7% over the past 24 hours and has climbed above the $0.03500 level. The positive performance comes as Chiliz announces a key partnership. In addition, CHZ's technical indicators have turned bullish, suggesting the potential for further gains in the near term. Royal Belgian Football Association to launch fan token on Chiliz CHZ is outperforming the broader cryptocurrency market after Chiliz announced a strategic partnership with the Royal Belgian Football Association (RBFA). On Monday, the Chiliz team revealed that it had partnered with the RBFA to launch an official fan token for the Belgian national team on the Socios.com fan engagement platform. With this development, Belgium joins a global network of national teams on Socios.com, including Argentina, Portugal, Italy, and South Africa. Commenting on the partnership, Peter Willems, CEO of the Royal Belgian Football Association, said: “This collaboration will allow us to create innovative digital experiences and bring fans closer to our teams. As we continue to evolve our fan engagement strategy, we look forward to creating meaningful interactions that strengthen the bond between our teams and supporters around the world.” Chiliz has recorded an increase in fan token launches in recent months ahead of the FIFA World Cup later this month. The team added that the official Belgium Fan Token Offering (FTO) will begin on the Socios.com app on June 3, 2026, at 10:00 CEST and run for 24 hours until June 4, 2026, at 10:00 CEST, or until the allocation is sold out. A total of 2 million BELG fan tokens will be issued at a launch price of $1.00 per token. Chiliz technical outlook: CHZ could extend gains above $0.040 The CHZ/USD four-hour chart remains bearish despite the token's positive performance over the past 24 hours. However, momentum indicators suggest the bearish trend may be losing strength, opening the door for a potential bullish move. The Relative Strength Index (RSI) stands at 57, above the neutral 50 level, indicating that selling pressure is fading. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is approaching the neutral zone, further supporting the view that bearish momentum is weakening. If bulls regain full control of the market, CHZ could break above the four-hour Transactional Liquidity (TLQ) resistance level at $0.0374. A daily close above that level could pave the way for a move toward the $0.0435 zone, which the token last tested within the past two weeks. Source: TradingView The monthly high near $0.050 remains the next major hurdle for buyers. However, if bearish pressure returns, CHZ could retest Monday's low of $0.0327 in the coming sessions. A break below that support level could expose the token to further downside, potentially sending it toward the $0.031 area for the first time since February 27. The post CHZ surges 7% on Chiliz fan token partnership appeared first on Invezz