Resistance levels: $0.035, $0.038, $0.041
Support levels: $0.032, $0.029, $0.021
ZIL/USD Medium-term Trend: Bullish
ZIL/USD is in a bullish trend in its medium-term outlook. The strong bullish momentum finally broke the upper resistance level of $0.032 with the formation of inside bar candle formed at the resistance level and the price moved upside above the present near support level of $0.032. It is currently exposed to the upper resistance level of $0.035.The formation of more bullish candles which connotes the increase of the bulls’ force made the price to increase. Today the price of the
coin is rising as price approaches the upper resistance level.
In case the price rises to the high of $0.035 and break it, the price will be exposed to the stronger resistance level of $0.038. Nevertheless, the price may retest the support level of$0.032 before going long.
The Stochastic Oscillator period 14 is above 80 levels with its signal lines pointing downwards indicate a sell signal. The price of ZIL is above the 10-day EMA and the 50-day EMA. In case the support level of $0.032 holds the price will continue its upward movement towards the resistance level of $0.035.
ZIL/USD Short-term Trend: Bullish
The cryptocurrency was able to break the former resistance level of $0.032 upward yesterday. the ZIL/USD formed strong bullish candles on the short- term trend. The price broke the present support level of $0.032 to the north and continues its bullish trend. As at present the price is moving upward towards the resistance level of $0.035 with the pressure from the bulls. The price is above the 10-day EMA while the 50-day EMA is below 10-day EMA which indicates gradual upward movement.
The Stochastic Oscillator period 14 is above 50 level with the signal lines pointing towards north which indicates that the price may continue its upward movement. Traders are advised to follow the trend patiently.
