- Zilliqa price tries to escape the descending triangle pattern over the daily chart.
- The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of ZIL/BTC is at 0.000001799 BTC with an intraday gain of 3.71%.
Zilliqa price is trading with slight uptrend momentum over the daily chart. The token is trying to escape the descending triangle pattern and trying to sustain at the verge of the pattern. Volume change looks slightly low and needs to grow for ZIL to sustain and maintain itself at the upper trendline. ZIL may falter and drop back under the influence of bears in this bear market.
Zilliqa price is presently CMP at $0.053 and has gained 2.25% of its market capitalization in the last 24-hour period. Trading volume has increased by 31.72% in the intraday trading session. However, volume change is low and needs to grow for the ZIL coin to maintain itself outside the descending triangle pattern over the daily chart. Volume to market cap ratio is 0.3469.
ZIL coin price is trading above the descending triangle pattern over the daily chart. The token must sustain above the triangle pattern by maintaining bullish momentum. However, volume change can be seen below the average and needs to grow for ZIL to sustain. Support on the lower side is at $0.044, and resistance on the higher side is $0.07.
ZIL bulls Sustain or get Detained?
ZIL Coin price is trading inside a descending triangle pattern over the daily chart. However, ZIL tries to escape but looks like faltering at the verge of the triangle pattern. ZIL bulls need to accumulate themselves to escape the descending triangle pattern. A Make-or-break situation arises for ZIL token.
Technical Indicators are about to signal any sign of ZIL token. Relative Strength Index showcases that ZIL is near the oversold territory and may move towards neutrality if ZIL bulls sustain successfully.
MACD exhibits that the token may break out or break down from this point. The MACD line is below the signal line and waiting for a positive crossover. However, ZIL bulls need to sustain the breakout.
Conclusion
Zilliqa price is trading with slight uptrend momentum over the daily chart. The token is trying to escape the descending triangle pattern and trying to sustain at the verge of the pattern. ZIL bulls need to accumulate themselves to escape the descending triangle pattern. A Make-or-break situation arises for ZIL token.
Technical Levels
Support Levels: $0.044
Resistance Levels: $0.07
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.