Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
April has begun with a slight correction of the cryptocurrency market as most of the coins are trading in the red zone.
ZIL/USD
Zilliqa (ZIL) has started the new month with a continued rise, going up by 14% since yesterday.
ZIL has formed a new level at $0.2307. From the local point of view, the altcoin may test the support at $0.20172 by the end of the day. However, as the selling volume increases, there is a chance to see the breakout and further drop to the zone around $0.18 soon.
From the mid-term point of view, Zilliqa (ZIL) could not fix above yesterday’s peak yet. If nothing changes by the end of the day, the decline may continue to yesterday’s low at $0.17263.
In addition, the buying trading volume has decreased, which confirms buyers’ weakness.
On the weekly time frame, ZIL has broken the resistance at $0.15482; however, it could not set a new peak. If bulls cannot do it by the end of the week, the altcoin may retest the purple line that serves the support now. Such a scenario applies to the mid-term and can occur by the end of the month.
ZIL is trading at $0.20587 at press time.
Source: https://u.today/zilliqa-zil-price-analysis-for-april-1