Zilliqa(ZIL) Technical Analysis: ZIL Price in a Misty Phase, Yet Aim to Jump 10%

Key Takeaways

• The ZIL price closed the previous day’s close at $0.04259 with a market capitalization of $514.59 million and a circulating supply of 12.50 billion ZIL
• The price has managed to gain notable bullish momentum from the past couple of days, yet the selling volume has currently halted the uptrend
• If the price manages to sustain the trembled condition, it may leap longer by nearly 10% to achieve the immediate resistance levels

Zilliqa(ZIL) Technical-Analysis for Today: 11 March 2022

ZIL price despite following a descending trend since the beginning of the month has maintained decent volatility. Moreover, the volume currently is a little higher than before, and hence a significant price movement regardless of the direction may be presumed. Yet in the short-term, the asset is primed to close the day’s trade on a bullish note.

The immediate resistance is a little distinct from the current levels and hence it failed to achieve, yet the path may be laid. And hence including a couple of pullbacks or minor corrections, the ZIL price may eventually smash the resistance to secure with the uptrend. 

Zilliqa(ZIL) Technical Analysis at a Glance

Zilliqa’s price recently rejected visiting lower support beyond $0.0366 by rebounding strongly. However, after a significant jump a couple of days before, the asset is swinging within a parallel channel. Currently, the price seems to be poised to maintain a strong uptrend and hence refuses to launch towards the south.

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

The current bearish trend in the market has capitulated the ZIL price which also showcases the possibility to test lower support. However, the current levels are very close to 50-day & 200-day MA levels. And surpassing these levels may validate the uptrend. On the other hand, the rally’s strength is coiling up, and being less volatile one can expect a slow yet steady uptrend in the next couple of hours. 

Additional Read: Top Crypto News Today, 11 March 2022

ZIL /USDT Technical-Analysis for Short-Term

Source: Tradingview

• The ZIL price in the short-term is trending within a symmetrical triangle, woefully being rejected at the resistance.
• Yet the apex appears to be a little far off and hence another minor pullback with a quick rebound is very likely
• However, the rebound may escort the price above the resistance, but may eventually fail to uplift the price above the strong resistance levels 
• Therefore, the possibilities of re-entering the triangle currently appear to be pretty high which could be flipped over time

ZIL/USDT Technical Analysis for Long-Term

Source: Tradingview

• The ZIL price is following a notable descending trend since it flipped from the November highs. 
• Moreover, a significant bearish trend ignited when the asset lost the support flipped to resistance levels at $0.060
• The Bollinger Bands suggests massive price action is due for the ZIL price as the bands remain squeezed at the moment
• Moreover, the price resides along with the middle bands and hence is currently a little misty to determine the direction

Additional Read: Zilliqa Price Prediction

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