The 2021 bull run escorted almost all the crypto assets towards their highs and ZIL price took the most advantage of it. The price rallied gigantically by nearly 300%, but woefully, the asset plunged more than its gains in the next couple of months. However, the price attempted to rebound fairly during Q3 2021 and in Q4 the asset followed a notable downtrend. Currently, Zilliqa is utilizing all its resources to flip from the bearish divergence but appears to be a tedious task.
Zilliqa(ZIL)/USDT Technical Analysis at a Glance
Zilliqa’s price since the beginning of the current month is following a notable uptrend and surged by more than 37% from the monthly lows. The asset, however, on approaching one of the important resistance faced a pullback which appears to be a short-lived one. And hence by building a notable buying volume, the asset is currently consolidating around the gained levels. Therefore appears to be extremely poised to continue trending towards the north.
|Short Term||The price is hovering around the average levels but showcasing fair chances of surging towards the next resistance levels|
|Mid-Term||ZIL price is well maintained within an ascending channel and appears to be notably bullish|
|Long-Term||A significant amount of buying volume is accumulated and hence the price is expected to continue leaping long|
Zilliqa(ZIL) Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||55.35 / 43.63||Buy / Buy|
|MACD(12,26)||0.00 / -0.0001||Buy / Sell|
|Average True Range(ATR)||0.0005 / 0.0033||Less Volatility / Less Volatility|
|Average Directional Index(ADX)||32.87 / 31.8||Buy / Buy|
Additonal Read: Top 10 most expensive NFTs sold
The ZIL price is bullish in both the time frames as most of the indicators point out towards a buy signal in the short term while being neutral in the long term. The RSI in both time frames is hovering in the average ranges and appears to have undergone a small deviation towards the south. On the other hand, MACD is showcasing a notable buying volume accumulated in the long term while in the short term, the indicator is on the verge of letting out a buy signal.
The risks in dealing with Zilliqa currently appear to be pretty less as the volatility indicator ATR signals less volatility in both the time frames. The ADX, which measures the strength of the rally, is also bullish in both the short & long term, ranging towards the highs, gaining huge momentum.
The ZIL price at present is $0.05717 and very close to its immediate yet important resistance at $0.05845. And hence after surging beyond these levels, the asset may eventually leap long to test the 200-day & 50-day MA in the long term which may further certify with the uptrend. Yet bull run may begin as the asset surpasses $0.1 levels to hit $0.14. And hence if the ZIL price gears up with extreme bullish momentum then by the start of Q2 one can expect significant gains which may continue until the end of the year.
Zilliqa(ZIL)/USDT Technical Analysis for the Week
The Zilliqa price after soaring to a great extent since the beginning of the current month is consolidating within healthy ranges. Having accumulated huge bullish momentum, the asset appears to be pretty sure of the upcoming trend. By swinging within a narrow region from the past couple of days, around the gained levels is extremely bullish. And hence one can expect a decent uptrend until the weekend.
Source: Tradingview Date: 10-02-2022 Time: 3:28pm
- With the recent spike, the ZIL price is approaching one of the important resistance zones and after consolidating for some more time, the asset may hit these levels but take some more time to surpass
- The asset is currently lagging buying pressure as the current volume is utilized only to prevent further plunge. Therefore, to push the price beyond the upper resistance, the bulls are required to jump in
- However, the asset still does not appear much stable and for this reason, the bulls may be a little distinct.
- Yet on reaching the levels around $0.075 or $0.008, the buyers may get activated and jump into uplifting the price beyond 10 cents.
- Yet in the long-term, the ZIL price chart manifests a formation of a minor bull flag which is a bullish indication. No doubt the breakout may not be much impactful, yet it may surely prevent further drain.
- As the technicals suggest, the ZIL price is expected to maintain the uptrend throughout the week until the weekend where it may take a halt and enter a small correction.
Additional Read: Zilliqa(ZIL)/USDT Price Prediction
Zilliqa(ZIL)/USDT Technical Analysis for Today: 10 February 2022
The ZIL price has recorded a decent gain in its value in the past working day which recovered most of the loss incurred on 08 February. However, the bears tried their best to drag the price below the trend line, but the buyers were poised to keep up the trend and hence quickly jumped in to maintain the price within the trend. The price is expected to follow the uptrend slowly yet steadily and eventually reach the immediate resistance and try to slice through these levels firmly.
Zilliqa price is currently $0.05696 with a jump of nearly 4.47% compared to the previous day’s close. The accumulating buying volume has dragged the trading volume above $48 million with a jump of 0.70%. On the other hand, the market cap has also witnessed a growth of 4.4% registering above $700 million.
Where & How to Buy Zilliqa(ZIL)
CoinDCX is the best place if you are in search of a platform that offers smooth trades with multiple other features that may help you to make the best trading decisions. Registering with CoinDCX is very simple,
- Download CoinDCX App on your smartphone
- Enter the required details
- On verification, fund your wallet and start trading!
CoinDCX has now reached a milestone of 10 million or 1 Crore users. To celebrate the achievement, CoinDCX presents India’s Best Trading Competition. Here you stand a chance to win rewards worth 1 Crore. Visit the official announcement page for more details!
So why wait, download the App now!
Read our recent articles:
- What is Dogecoin?
- How to assess the value and worth of NFTs
- Is Decentraland a good investment? Take a deep dive into MANA coin
Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information, or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment, or tax advice by the reader. The calculations, data, risk-return formulations, performance, or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors, or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
Key Takeaways: After trading under the bearish influence, Bitcoin price…
Learning about technical analysis and indicators have not been easier before!