Zilliqa Price Prediction: The Upward trend might get a Reversal

ZIL price is moving ahead of the 20,50 and 100 days of EMAs and is lagging behind the 200-day MAs.
The current price of Zilliqa is moving around the $0.03028 mark and dropped by 5.02% in the last trading session.
The pair of ZIL/BTC is around 0.000001078 BTC and dropped by 4.01% in the last 24 hours.

The Bulls might have overwhelmed the Zilliqa market. The bulls must now reverse this bearish trend after a protracted fight between the bulls and bears appears to have ended with the bears ultimately controlling the coin’s price. To get the currency to recover its potential, the bulls must succeed in getting into the transaction. The price may increase if the bears manage to turn this slope. The moment has come for new buyers to get involved in the market.

Zilliqa’s present price is approximately $0.03028 (at press time) and recorded an overall loss of 5.02% in the last intraday trading session. The ZIL/BTC exchange rate is hovering around 0.000001078 BTC and has dropped by 4.01% in the last 24 hours.

The declining slope may be disastrous for whales and even investors. On the 1-day price chart, the price may decline to the primary support of $0.02586 if the bearish trend persists, and up to the secondary support of $0.02238 if the trend is stronger than expected. Meanwhile, the primary resistance level of $0.03551 may be reached if the bulls outsmart the bears and prevail. And if the bulls don’t allow the bears even the slightest opportunity to join the trade, the price could rise as high as secondary resistance at $0.03968. To bring about any significant shift in the coin’s price, the bulls will have to dig further.

The coin’s volume increased by about 93.57% intraday. This steady incline in volume shows that selling pressure is decreasing. The volume-to-market cap ratio is around 0.5088.

The Relative Strength Index (RSI) is approaching the overbought region. To get ZIL RSI back to neutrality, the bears might have to try harder. RSI is currently 57.10 and the average RSI is 50.50. The price exceeded the exponential moving average of 20, 50, and 100 days but is still behind the 200-day moving average. The MACD and MACD signal intersected, giving a positive crossover.

Conclusion

The current market trend of ZIL is currently bullish while the sellers try to get into the trade. Zilliqa price at press time was around $0.03028. It dropped by 5.02% during the last intraday trading session. The RSI is in the overbought zone indicating that the buyers might also be accumulating. The MACD and MACD signal intersected, giving a positive crossover.

Technical Levels

Support Levels: $0.02586 and $0.02238

Resistance Levels: $0.03551 and $0.03968

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.