- ZIL coin shows the 20 and 50-day EMA has given a bullish crossover
- The ZIL/BTC pair was trading at 0.000001682 BTC with a gain of 4.34 %
- The 24-hr trading volume in ZIL coin is $128.6 Million
The ZIL coin showed a decent recovery when the price bounced from the $0.076 support with a bullish engulfing candle. However, the new rally could pass a significant resistance of $0.103 and displayed another minor pullback to the $0.089 support. As for now, the price has bounced from this support level and is ready for a second chance to breakout from overhead resistance.
Concerning the EMA’s, the ZIL coin price is trying to cross above the 200 EMA line, which will be an important milestone to start a new rally. Moreover, The coin chart also shows that the 20 and 50 EMA can soon give bullish crossover, attracting even more buyers to this coin.
The RSI (BULLISH) value is at 57, indicating a strong bullish emotion in the coin. The RSI line is showing a steady growth concerning the coin’s price action.
ZIL Coin Chart In The 4hr Time Frame
The ZIL coin shows the formation of a double bottom pattern in the 4hr time frame chart. This pattern’s crucial resistance (neckline) is at the $0.15 mark, holding this excellent long opportunity for crypto traders. The ZIL coin is currently trading at $0.103, with an intraday gain of 1.58%.
The Moving average convergence divergence indicator (BULLISH) shows that both the MACD line and signal lines are moving above the neutral zone (0.00), indicating bullish momentum in the ZIL coin.
Conclusion: From a technical perspective, the ZIL coin is still under a short-term downtrend. However, the price action and indicator are taking a positive turn. And as mentioned above, the crypto traders can wait for the price to break out from the bullish pattern’s neckline to trigger an entry signal for a long trade.
Support– $0.095
Resistance– $0.15