- The Zilliqa coin slowly recovered this week, gaining 44% of its value in the last 7 days.
- Zilliqa’s price is nearing a bullish barrier during a high-low formation in the context of the daily price chart.
- The bitcoin pair belonging to the Zilliqa coin is trading at 0.000002287 Satoshis, with a gain of 7.2% in the Green Zone.
The Zilliqa coin price action is in favor of the bulls, who have managed to retain the price in the higher zone. However, Zilliqa Coin has underperformed in the last two months. During downtrends, ZIL investors were frequently rejected by bounce-backs. However, reaching the $0.029 level, purchasers breathed a sigh of relief.
Meanwhile, the bulls have had a significant hedge zone in the demand zone (green box) for several weeks and this will continue to be valid. As a result, the Zilliqa coin is currently trading at $0.0492.
During a bullish move, ZIL price momentum seems weak near the horizontal trend line (blue), above this short-term resistance, the bulls are likely to target $0.06 at current levels.
Meanwhile, the market cap climbed above $638 million, according to CMC, with a gain of 8.6% in the last 24 hours. Furthermore, the bitcoin pair belonging to the Zilliqa coin is trading at 0.000002287 Satoshis, up 7.2% in the green zone.
On the weekly price scale, the trading volume bar is higher than in the last 4-weeks. On the other hand, the trading volume decreases as the price of ZIL moves down near the trendline zone.
ZIL price entered into the Ichimoku indicator’s red zone
In terms of the daily price chart, Zilliqa’s price is moving higher in the red cloud of the Ichimoku indicator. At that time, Leading Span A- $0.415 acted as an important support level and Leading Span B- $0.057 could influence the bullish trend.
Besides, the daily RSI indicator moved above the semi-line after 45 days.
Conclusion
The Zilliqa coin is in a bullish position but the momentum seems to be less as compared to the other days, but possibly above this short-term resistance, the bulls could target $0.06 at current levels.
Technical Levels
Support Levels: $0.030 and $0.025
Resistance Levels: $0.050 and $0.060
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.