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- 1 Zilliqa price prediction shows the struggle of ZIL crypto to recover above the $0.020 resistance.
- 2 ZIL crypto is trading below the 20, 50, 100, and 200-day daily moving average.
- 3 Zilliqa cryptocurrency has gained 6.95% year to date.
Zilliqa price is struggling to break out of the $0.020 resistance level on the daily time frame chart. The ZIL coin needs to attract more buyers in order to surge from its current price of $0.017. If ZIL can break through the resistance level, it could reach the next target of $0.02004. However, the overall sentiment in the cryptocurrency market is bearish, and ZIL could face selling pressure if the broader market declines.
The Zilliqa price is in a neutral to bearish position. Zilliqa crypto needs to break through the $0.020 resistance level and overcome the technical challenges in order to resume its uptrend. However, ZIL crypto has been facing difficulties in recovering from the current resistance to initiate its recovery.
Zilliqa price was at $0.0.01693 and lost 0.35% of its market capitalization during the day’s trading session. Trading volume has decreased by 32.83% during the intraday trading session. This demonstrates that the sellers’ accumulation rate is high for a pullback. The volume to market cap ratio was at 3.42%.
Analyzing Zilliqa Price Technical Indications
A substantial gain on the daily time frame chart might result from a probable rebound from a low point, according to Zilliqa price prediction. The amount of trade hasn’t changed noticeably though. The ZIL cryptocurrency is simultaneously working to regain its position above the daily moving averages of 20, 50, 100, and 200 days.
Zilliqa prices fluctuate during 2023, suggesting a potential rebound amidst altering market forces. ZIL saw a marginal decline of 0.41% during the last week, in contrast to a significant decline of 18.80% over the previous month. Its value also saw a big loss of about 25.19% in the most recent three months and a dramatic decline of 40.62% in the six months prior.
But year to date, the Zilliqa price has recovered about 6.95%. This verifies the information of ZIL cryptocurrency’s revival in 2023.
Concerns are expressed by the technical indicators regarding the stability of the ZIL coin. The relative strength index shows a decline in ZIL’s value. However, the increasing momentum is visible in the moving average convergence divergence.
RSI was at 36 and is heading towards the oversold territory. The MACD line is above the signal line after a positive crossover. Investors in Zilliqa cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Zilliqa price is struggling to break out of the $0.020 resistance level on the daily time frame chart. The price of Zilliqa fluctuates during 2023, suggesting a potential rebound amidst altering market forces. But the year to date Zilliqa price has recovered about 6.95%. This verifies the information of ZIL cryptocurrency’s revival in 2023. Concerns are expressed by the technical indicators regarding the stability of the ZIL coin.
Technical Levels
Support Levels: $0.01628 and $0.01560
Resistance Levels: $0.01745 and $0.01825
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 or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
