- Zilliqa price remains inside a robust daily uptrend despite the recent sell-off.
- There are not many bearish signs for Zilliqa in the short-term.
Zilliqa is currently trading at $0.03 still inside a daily uptrend formed on November 4. The digital asset is down by 17% since its 2020 peak at $0.0364 but the bulls remain in control and are aiming for higher highs.
Zilliqa price faces very little resistance to the upside
One of the most significant support levels on the daily chart has been the 26-EMA, defended on several occasions during the current uptrend. As long as the bulls can continue holding this major support level, the uptrend will most likely remain intact.
ZIL/USD daily chart
Additionally, the TD Sequential indicator has just presented a quick buy signal on the 30-minutes chart which is currently in a downtrend. Validation of the call would push Zilliqa price towards the high of $0.0316.
ZIL/USD 30-minutes chart
However, it’s important to note that the daily uptrend is somewhat overextended. A breakdown below the 26-EMA at $0.0284 would be notable and can potentially push Zilliqa price towards the psychological support level of $0.02.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.