Price Analysis

Daily Price Analysis for Zilliqa (ZIL) – September 26, 2018

Daily price analysis for Zilliqa (ZIL) - September 19, 2018

Resistance levels: $0.041, $0.045, $0.049
Support levels: $0.037, $0.034, $0.032

ZIL/USD Medium-term Trend: Bearish

ZIL/USD broke out the upper resistance level of $0.041 forty-eight (48) hours ago with the formation of strong bullish candles and the price moved to the higher resistance level of $0.045. The bears interrupted the uptrend movement of the price after the price broke out from the resistance level of $0.045; confirmed by the formation of a strong upper long tail bearish candle. The price of the coin fell as price approaches the support level of $0.032. The Bulls lost the
control of the market as strong bearish candles were formed.

As at present the price is on the support level of $0.032.In case support level of $0.032 does not hold, the price will continue its bearish movement and expose to the lower support level of $0.029. The Stochastic Oscillator period 14 is below 10 levels (the oversold level) with its signal lines parallel indicate indecision. The price of ZIL is below the 10-day EMA and the 50-day
EMA suggesting downtrend movement. Should the support level of $0.037 holds the price will rally to the north.

ZIL/USD Short-term Trend: Bearish

On the short-term outlook, the coin was able to break the resistance level of $0.041 upward forty-eight (48) hours ago. The price was rejected back below the support level of $0.037 by the Bears’ pressure. As at present the price is moving upward towards the resistance level of $0.037 with the pressure from the buyers. The price is in between the 10-day EMA and the 50-day EMA with a strong bullish candle, which indicates upward movement.

The Stochastic Oscillator period 14 is above 20 levels with the signal lines pointing towards north which indicates that the price may move upward. There is a probability for the price to increase tremendously today.

Read More: The Crypto Updates

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