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Zilliqa price aims for higher highs above $0.036 as bulls keep control of the trend

  • 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 price aims for higher highs above $0.036 as bulls keep control of the trend
Lorenzo StroeLorenzo StroeIndependent Analyst

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 price

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 price

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.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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