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- 1 The ZIL price is currently trading at $0.0239 while seeing a change of 14% in the 7-day trading volume.
- 2 The ZIL price has been observing a decline of 2.88% in the last 24 hours.
The Zilliqa price is presently trading on a bull trend in the daily timeframe after taking support from $0.01500 gaining 75% of its value back. Recently, the bears made an attempt to overpower the bulls and the price almost broke its support level, though the bulls refused to step back, defending the price below the support zone.
The price action suggests that the ZIL coin may attempt a bullish reversal shortly if buyers propel the price up with substantial momentum. Presently, the price is moving below all major EMA levels, which may be a challenge for investors to overcome in recent days.
The current value of Zilliqa is $0.02401 and it has a market of 379.09 Million
ZIL Price Observes a Decline in AltRank
The investor’s opinions regarding the ZIL price are seeing a decline in the total bullish sentiment of 12%. Total social engagement value has depreciated by 43.98% within the past few weeks according to LunarCrush.
The current Altrank of Zilliqa token is 44th, seeing a fall of 70 points from its last value.
A Decline in TVL of ZIL and the Stablecoins
The present Total Value Locked of the ZIL token is $4,477 Million, it surged by 2.86% within the last 24 hours. The TVL and price of ZIL observed a slight increase in its value in the last few weeks which suggests that buyers are steadily regaining their interest in the token.
Technical Analysis
The RSI line is making a bullish higher high and low pattern suggesting that it may soon give a positive intersection to 50 RSI points. The current value of the RSI line is 48.21 points and it is taking support from 14 SMA around 39.25 points. The RSI line suggests a bullish perspective for the near future.
The stochastic RSI has reached overbought levels near its previous resistance point. The oscillators at present are moving near the demand zone; the 20 EMA line is also making a bullish curve.
Conclusion
According to the analysis, at present, The majority of technical indicators endorse the bulls. The support level for the ZIL price is around $0.02000 whereas the recent resistance point for the price of ZIL is near $0.02500 and its major resistance is at $0.03000.
Technical levels –
Support – $0.02000
Resistance -$0.02500 and $0.03000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
