Zilliqa price analysis: Despite ZIL’s 32% plunge this week, buyers are still hopeful for a turnaround
- The Zilliqa coin forms a low-high and a low-low on the daily price chart.
- In terms of the daily price chart, the ZIL coin is trading lower with important EMAs including 20,50,100, and 200.
- The Zilliqa coin with the bitcoin pair is trading at 0.000001892 Satoshis with a drop of 12.4%.
The price of Zilliqa (ZIL) has been decreasing over the last several days, plummeting 45 percent from the resistance level of $0.136. Being a result, the coin’s price broke through the $0.1 psychological support level on April 26, implying that sellers may continue to sell the currency, with the $0.056 mark as the next target.
The ZIL token has continued to decline since its yearly high of $0.023 and is down almost 70% so far. Thus, the ZIL coin is suggesting a bearish weekend with a fall of 32%.
Meanwhile, at the time of this writing, ZIL is trading at $0.0718, with a 14% loss in the market cap of $913 million in the last 24 hours according to CMC. Moreover, the Zilliqa coin with bitcoin pair is trading at 0.000001892 Satoshis with a drop of 12.4%.
.In terms of the daily price chart, the ZIL coin is trading lower with important EMAs including 20,50,100, and 200. Last night traders saw the least volatile session of the week, noting a gain of around 115% and trading volume.
What do technical indicators say about ZIL?
On the daily price chart, the RSI indicator is approaching oversold territory, while the ADX indicator is progressively moving lower. Both signs point to the Zilliqa coin’s vulnerability.
There is no question that the Zilliqa currency is exceedingly bearish, and the bulls have little chance of reversing the crypto to the $0.056 mark, which looks to be a support level.
Support level – $0.056 and $0.050
Resistance level – $0.10 and $0.24
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.