Resistance levels: $0.035, $0.038, $0.041
Support levels: $0.032, $0.029, $0.021
ZIL/USD Medium-term Trend: Bearish
The cryptocurrency was able to break the former support level of $0.032 downward yesterday. It
was exposed to another support level of $0.029.The coin was in a bearish trend yesterday.
Formation of bearish hammer on the 4-Hour chat made the price to experienced bearish trend.
Today the price of the coin is falling as price approaches the previous low of $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.
The Stochastic Oscillator period 14 is on the 40 levels with its signal lines pointing upwards
indicate a buy signal. The price of ZIL is above the 10-day EMA and the 50-day EMA is above
the 10-day EMA. In case the support level of $0.029 holds the price will be reversed to the north.
ZIL/USD Short-term Trend: Bearish
Yesterday the ZIL/USD formed bearish engulfing candle on the short- term trend. The price
broke the resistance level of $0.032 to the south and continues its bearish trend. As at present the
price is moving downward towards the support level of $0.029 with the pressure from the sellers.
The price is above the 10-day EMA while the 50-day EMA is above 10-day EMA which
indicates gradual upward movement.
The Stochastic Oscillator period 14 is on the 40 level with the signal lines pointing towards north
which indicates that the price is moving upward. Traders should follow the trend patiently.