- The Zilliqa coin is about to revisit the crucial demand zone again in terms of the daily price chart.
- The market cap was seen at $681 million, up 13.2% over the last 24 hours.
- The Zilliqa coin with the bitcoin pair is seeing a gain of 8.7% at 0.000001762 Satoshis.
The Zilliqa has been underperforming for the past several days after turning down from the $0.023 Mark, since there buyers lost nearly 80% of its cost till the monthly low of $0.0399-mark. Thus, the price action has been suggesting the lower-lows formation on the daily price chart
In terms of the hourly price chart, ZIL is witnessing a downside break from the $0.056 mark since May 12. Trading volume is much lower than last week, with sideways momentum.
At the time of this writing, ZIL Coin is trading at the $0.0534 mark, with a 13.2% increase in its market cap over the last 24 hours to $681 million. Despite the intraday trading session, ZIL’s price action has been showing sideways for the past several days. Furthermore, the Zilliqa coin with the bitcoin pair is seeing an increase of 8.7% at 0.000001762 Satoshis.
The 100-day exponential moving average has been a red zone for volatility over the past 2 months. Now ZIL Coin is trading below the important 20,50,100 and 200 EMAs on the daily price chart. However, its trading volume increased by 24% compared to the previous night.
ZIL’s Price action shows higher-lows formation
In terms of the daily price graph, the RSI indicator is moving towards the semi-line (50-mark) after dipping into the oversold area. Last time, the RSI failed to move above the halfway mark and failed to turn bullish.
Conversely, the ADX indicator for the Zilliqa coin is showing a sideways movement.
Conclusion
However, the Zilliqa coin was rejected several times near the downsloping trendline. Once again moved towards this bullish obstacle. Now it remains to be seen whether the bulls cross this hurdle or not.
Support level – $0.037 and $0.030
Resistance level – $0.057 and $0.10
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.