Resistance levels: $0.035, $0.038, $0.041
Support levels: $0.032, $0.029, $0.021
ZIL/USD Medium-term Trend: Bearish
The coin has been bearish for many days and it continues bearish movement in the medium-
term outlook yesterday. The price formed bearish pin bar at the resistance level of $0.035 that
led to the emerging of more strong bearish candles. More sellers came in and push the price
down towards the former support level of $0.032. Further bearish pressure broke the support
level of $0.032 and pushed the price towards the support level of $0.029 yesterday. There may
be a price retracement today.
The Stochastic Oscillator period 14 is below 20 levels with its signal lines pointing upwards
indicate a buy signal. The price of ZIL is below the 10-day EMA and the 50-day EMA together
with the formation of a bullish engulfing bar candle which indicates that the price may go
bullish. In case the support level of $0.029 does not hold the price will be exposed to the
support level of $0.021.
ZIL/USD Short-term Trend: Bearish
ZIL/USD rallied towards the resistance level of $0.035 and was rejected by the formation of
bearish hammer candles which pushed it towards the former support level of level of $0.032.
The price broke down the support level and it decreases towards the support level of $0.02
with the pressure from the sellers. The bearish movement was interrupted by the formation of
doji candle that led to the uptrend reversal. The 10-day EMA is under the 50-day EMA and the
price is above 10-day EMA which indicates bullish movement.
The coin will retest the support level of $0.032. The Stochastic Oscillator period 14 is above 50
with the signal lines well separated and pointing towards north which indicates that the price is
in the bullish trend. Traders should follow the trend patiently. Taking long may deliver some