Zilliqa
Zilliqa Price Analysis: ZIL Growing up after Consolidating at 2020 Lows
- Zilliqa price is trying to regain its uptrend momentum over the daily price chart.
- The crypto asset is trading below 20, 500, 100 and 200-days Daily Moving Average.
- The pair of ZIL/BTC is at 0.000001693 BTC with an intraday gain of 2.75%.
Zilliqa price has been falling through a curve and is now finally getting support at the 2020 lows. The token has been bullish from the last three consecutive trading sessions. As BTC the greatest market dominator got up from $20000 mark and weathered some calming waves all over the cryptocurrency market Other altcoins like Zilliqa have also started their recovery phase. Zilliqa price is gathering forces to get up from the lower levels of 2020. ZIL coin is making a rounding bottom pattern over the daily price chart or it may not follow the pattern but can register its recovery upto some instance.
Zilliqa price is presently CMP at $0.036 and has gained 8.47% of its market capitalization in the last 24-hour period. Trading volume has increased by 36% in the intraday trading session. This shows that buyers are getting involved in the trade to push ZIL coin up in the rounding bottom pattern. Volume to market cap ratio is 0.402.
ZIL coin is trying to gain the uptrend momentum over the daily chart. The token has been falling through a curve and is now getting support at the bottom, so it may surge upwards resulting in a rounding bottom pattern over the daily price chart. ZIL investors need to wait until the token surge upto respectable resistance level. However, volume change can be seen below average and needs to grow for ZIL coin to maintain its uptrend momentum over the chart.
Will Zilliqa Follow the Rounding-Bottom Pattern?
ZIL coin price is trying to regain its support from the bottom of the rounding bottom pattern which acted as trend reversal for ZIL coin. The token must surge upwards to the respectable resistance level. Technical Indicators suggest the strong uptrend momentum of ZIL coin.
Relative Strength Index showcases the uptrend momentum of ZIL coin. RSI is at 40 and is heading towards neutrality, it also looks determined to break out from the neutrality to surge towards the overbought territory. MACD exhibits a positive crossover which signifies the bullish momentum of the ZIL coin. The MACD line is crossing the signal line registering the positive crossover.
Conclusion
Zilliqa price has been falling through a curve and is now finally getting support at the 2020 lows. The token has been bullish from the last three consecutive trading sessions. The token has been falling through a curve and is now getting support at the bottom, so it may surge upwards resulting in a rounding bottom pattern over the daily price chart. ZIL investors need to wait until the token surge upto respectable resistance level. Technical Indicators suggest the strong uptrend momentum of ZIL coin. RSI is at 40 and is heading towards neutrality, it also looks determined to break out from the neutrality to surge towards the overbought territory.
Technical Levels
Support Levels: $0.030 and $0.025
Resistance Levels: $0.050 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.
