Resistance levels: $0.035, $0.038, $0.041
Support levels: $0.032, $0.029, $0.021
ZIL/USD Medium-term Trend: Bearish
ZIL/USD was bearish yesterday, September 19thth. After the bearish breakout on September 5th, the coin has been fluctuating between the resistance level of $0.035 and support level of $0.029. Today, the price of the cryptocurrency is falling as the price approaches the previous low of support level at $0.029.
Further bearish pressure may break the support level of $0.029 and pushed the price towards the support level of $0.02. In case the price falls to the low of $0.029 and the support level holds, traders should look out for buy setups to initiate long trades.
he Stochastic Oscillator period 14 is below 40 levels with its signal lines pointing downwards indicate a sell 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 bearish. 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 has been trading between the range of resistance level of $0.035 and the support level of $ 0.029 for more than two days now. As at present the price has broken the resistance level of $0.032 downside and moving downward towards the support level of $0.029 with the pressure from the sellers. The 10-day EMA is under the 50-day EMA and the price is below 10- day EMA which indicates downward movement.
The Stochastic Oscillator period 14 is above 20 with the signal lines pointing towards south which indicates that the price is moving downward.