- Zilliqa’s price has recovered back inside the consolidation phase and is trading with strong uptrend momentum over the daily price chart.
- The crypto asset has recovered to 20 and 50 EMA, the token now aims for 100 and 200-days Daily Moving Average.
- The pair of ZIL/BTC is at 0.000002283 BTC with an intraday gain of 4.72%.
Zilliqa’s price has successfully recovered from the 2022 lows and is surging over the daily price chart. ZIL price at first faced correction from the consolidation phase and got support at $0.028 and the surgeon back making a rounding bottom pattern over the daily price chart. ZIL price managed to recover itself back from the 2022 lows. ZIL coin must sustain inside the consolidation phase to surge upwards. However, sellers are accumulating themselves to pull the token back to the lower levels.
Zilliqa’s price is presently CMP at $0.048 and has gained 4.55% of its market capitalization in the last 24-hour period. However, trading volume decreased by 17% in the intraday trading session. This shows that the token is facing short-selling pressure now and bulls need to come forward to save ZIL from falling more. The volume to market cap ratio is 0.6023.
ZIL coin price has recovered back inside the consolidation phase and is trading with strong uptrend momentum over the daily price chart. However, volume change can be seen below average and needs to grow for ZIL to sustain inside the consolidation phase. ZIL bulls must accumulate to save the token from falling significantly over the chart.
Support on the lower end is at $0.038 and resistance on the higher side is at $0.051.
Will ZIL bulls Sustain or ZIL fall again?
ZIL coin price is trying to sustain at the current level and is maintaining itself inside the consolidation phase. The token is facing short-selling pressure and may fall with a directional change. ZIL investors need to wait for any directional change over the daily chart. Technical indicators suggest the uptrend momentum of the ZIL coin. The relative Strength Index showcases the uptrend momentum of the ZIL coin. RSI is at 54 and ZIL investors can expect any directional change upto 55 over the daily price chart. MACD exhibits the bullish momentum of the ZIL coin. The MACD line is ahead of the signal line after a positive crossover.
Conclusion
Zilliqa’s price has successfully recovered from the 2022 lows and is surging over the daily price chart. ZIL price at first faced correction from the consolidation phase and got support at $0.028 and the surgeon back making a rounding bottom pattern over the daily price chart. However, volume change can be seen below average and needs to grow for ZIL to sustain inside the consolidation phase. ZIL bulls must accumulate to save the token from falling significantly over the chart. Technical indicators suggest the uptrend momentum of the ZIL coin. RSI is at 54 and ZIL investors can expect any directional change upto 55 over the daily price chart. The token is facing short-selling pressure and may fall with a directional change.
Technical Levels
Support Levels: $0.038 and $0.028
Resistance Levels: $0.051 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.