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Zilliqa Price Analysis: ZIL Coin Under Bears Grip Plunges 10%

  • The ZIL coin price slips below the several EMA’s during intraday.
  • The 24-hour trading volume is at $131 million.
  • ZIL/BTC pair is trading negative by -2.2% at 0.00000155 BTC.

Moving Average (EMA) In the ZIL coin daily price chart containing 8,13,21,55 EMA, it is reliable support for currency price movements. Investors can find that price moves above the yellow line and guarantee an Enjin uptrend as long as prices are above the moving average.

The volume (210.377 M) is below the 20-day moving average (252.10 M). The volume is low, so the cost is struggling for several days. Investors may also mark a decrease in volume. This indicates that unusual changes are normal on the following trading days.

ZIL Coin Price Action Coming Towards Support

The daily price chart of ZIL coin moves gets rejected from the resistance zone. Depending on the price action, the support area is within $0.08. On the flip side, the resistance range to look for is around $0.14.  

The RSI showed a signal of 38 (bearish) with a short-term sell sign. Investors may find that the indicator’s RSI line is running downside. A plunge can happen on future trading days.

The MACD shows a (bearish) cross below the signal line on November 10, indicating a sell signal for the currency. In addition, investors can see red bars in the histogram indicator.

Conclusion

Zilliqa price today is $0.093777 with a 24-hour trading volume of $132,362,701. ZIL price is down -11.0% in the last 24 hours. It has a circulating supply of 13 Billion ZIL coins and a total supply of 21 Billion.

RSI and MACD indicate a sell signal. Traders have directed low volume. In fact, the cost got rejected from the resistance zone. A market overview also shows that this pattern will continue to plunge in the coming trading days.

Resistance Level: $0.14

Support Level: $0.08

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Nikhil Ingole: Mr, Nikhil Ingole is a Chief Editor at The Market periodical with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.