- The Zilliqa coin reversed from the buyers’ accumulation zone in terms of the daily price chart.
- The bulls got rejection near the 20-day exponential moving average on the daily price chart.
- ZIL speculators saw an increase of over 130% in trading volume in the last 24 hours.
The Zilliqa Coin has performed poorly over the past two months. During downtrends, ZIL investors often received a rejection of bounce-backs. But near the $0.029 mark, buyers take a deep sigh of relief.
The hedge zone for ZIL buyers is in the $0.028 to $0.033 zone (green box). Meanwhile, at press time, the Zilliqa coin was trading at the $0.0387 mark.
The Zilliqa price hit a 10-day high at $0.04550 yesterday evening where buyers saw a 21.8% gain in a single day.
After two bearish weekends, the bulls finally saw a green weekly candle, with costs up around 14.5% so far. Thus, yesterday’s spike caused the market cap to rise above $500 million, but it is still down 9.1% in the last 24 hours according to CMC.
ZIL speculators saw an increase of over 130% in trading volume in the last 24 hours. In addition to the increase in volume, the Zilliqa coin belonging to the bitcoin pair is trading down 4.1% on 0.000001926 satoshis.
RSI reversed for the semi-line
Since late April, the 20-day Exponential Moving Avenger has continued to deny a bullish move above it. Similarly, the bulls got rejection near the 20 EMA on the daily price chart. Above this area, the bulls can see a bullish rally towards the 200 EMA ($0.070 point).
Also, the daily RSI indicator failed to break the semi-line again, which is still valid as a resistance area for the indicator.
If the sell-off in Zilliqa coin is over, then the price will definitely move to a higher zone after today’s intraday retracement phase. And above the 20 EMA the bulls could see a bullish rally towards the 200 EMA ($0.070 points).
Support Levels: $0.030 and $0.025
Resistance Levels: $0.050 and $0.060
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.