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ThecoinrepublicCryptocurrencyZilliqa Price Analysis: Will ZIL be able...
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Zilliqa Price Analysis: Will ZIL be able to access the Consolidation Phase again?

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  • Zilliqa price has recuperated back inside the solidification stage and is exchanging major areas of strength with momentum over the daily price chart.
  • ZIL crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
  • The pair of ZIL/BTC is at 0.000001947 BTC with an intraday drop 1.63%.

Zilliqa price has effectively recuperated from the 2022 lows and is flooding over the daily price chart. ZIL at first confronted revision from the union stage and got support at $0.028 and the specialist back making an adjusting base example over the daily chart. ZIL value figured out how to recuperate itself back from the 2022 lows. ZIL coin should support inside the union stage to flood upwards. Be that as it may, merchants are collecting themselves to pull the symbolic back in the lower levels. ZIL currently struggles below the consolidation phase and is trying to gain support at 2022 lows.

Zilliqa price is CMP at $0.037 and has declined by 3.25% of its market capitalization over the most recent 24-hour time span. However, trading volume has increased by 50.92% in the intraday trading session. This shows that the token is confronting short-selling tension right now and bulls need to approach to save ZIL from falling more. Volume to market cap ratio is 0.4343.

ZIL coin price has fallen below the consolidation phase and is exchanging areas of strength with energy over the daily price chart. Nonetheless, volume change should be visible sub-optimal and requirements to develop for ZIL to support inside the union stage. ZIL bulls should aggregate themselves to save the token from falling fundamentally.

Support on the lower end is at $0.035 and resistance on the higher side is at $0.050.

What do Technical Indicators Suggest about ZIL?

ZIL coin price is attempting to support at the ongoing level and is keeping up with itself inside the consolidation phase. The token is confronting short-selling pressure and may fall with a directional change. ZIL financial backers need to sit tight for any directional change over the daily price chart. Technical Indicators recommend the downtrend momentum of ZIL coin. 

Relative Strength Index exhibits the downtrend momentum of the ZIL coin. RSI is at 42 and ZIL investors can expect any directional change upto 40 over the daily price chart. MACD displays the bearish momentum of the ZIL coin. The MACD line is about to cross the signal line downwards resulting in a negative crossover.

Conclusion

Zilliqa price has effectively recuperated from the 2022 lows and is flooding over the daily price chart. ZIL at first confronted revision from the union stage and got support at $0.028 and the specialist back making an adjusting base example over the daily chart. ZIL value figured out how to recuperate itself back from the 2022 lows. Nonetheless, volume change should be visible sub-optimal and requirements to develop for ZIL to support inside the union stage. ZIL bulls should aggregate themselves to save the token from falling fundamentally.  RSI is at 42 and ZIL investors can expect any directional change upto 40 over the daily price chart. MACD displays the bearish momentum of the ZIL coin.

Technical Levels

Support Levels: $0.035 and $0.028 

Resistance Levels: $0.050 and $0.060

ALSO READ: Ripple Wants to Bring Enormous DeFi Potential to XRPL

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ahtesham Anis
Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.
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