Zilliqa Price Analysis: ZIL sets the pace for massive recovery beyond $0.2


  • Zilliqa bulls are focused on sustaining the uptrend based on the MACD.
  • ZIL may explode above $0.2 if short-term resistance at $0.18 comes out of the way.
  • Support at the 50 SMA and the 100 SMA on the 4-hour chart must hold to avoid losses back to $0.145.

Zilliqa's recovery seems to have started after securing support at $0.145. The token is trading at $0.178 while bulls battle for gains above $0.20. Short term resistance at $0.18 is delaying price movements but once broken, ZIL will be on the way to higher highs beyond $0.2.

Zilliqa focuses on sustaining the uptrend

The Moving Average Convergence Divergence (MACD) shows that ZIL is in the hands of the bulls. This indicator is used to predict the positions to buy the dip and sell the top. When the MACD line (blue) crosses above the signal line, it implies that the trend is flipping bullish. On the other hand, it would be time to sell if the MACD line crosses beneath the signal line.

Meanwhile, the MACD is in the positive region in addition to the bullish divergence. A break past the immediate resistance at $0.18 would trigger many buy orders as investors speculate upsurge beyond $0.2.

ZIL/USD 4-hour chart

ZIL/USD 4-hour chart

The 12-hour SuperTrend indicator is also bullish, as illustrated on the chart. This indicator is also used to identify the general trend of the market. When it turns green, it suggests that traders should consider taking a long position in the asset. On the other hand, when the SuperTrend indicator turns green and moves above the price, the trend is mainly bearish.

ZIL/USD 12-hour chart

ZIL/USD 12-hour chart

Looking at the other side of the fence

A correction will come into play if the resistance at $0.18 remains unshaken. Tentative support is expected at the 100 Simple Moving Average (SMA) on the 4-hour chart and the 100 50 SMA. However, if push comes to shove, ZIL will seek support within the descending parallel channel or the primary anchor at $0.145.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Polkadot price to return to $40 if near-term support holds

Polkadot price has substantially recovered since hitting a low of $23.95. A return above the $30 level gives buyers and long-term hodlers significant psychological support that Polkadot may, again, move higher. Polkadot price faces near-term ...

More Polkadot news

VeChain recovery to $0.13 is crucial to reignite VET bull market

VeChain price has recovered roughly 40% of the losses it has had since the flash crash this past Saturday. A strong recovery looked very likely, but recent price action has shown there is a struggle to move higher and that bulls may be losing faith.

More VeChain news

These cryptos could post triple-digit gains by the end of the year

As Bitcoin struggles to recover from the drop on December 4, altcoins continue posting double-digit gains overnight. Based on their price trend, Terra, MATIC and Chainlink could post triple-digit gains before the end of the ongoing bull run. 

More Bitcoin news

Top 3 Price Prediction: Crypto market dazed post flash crash

Ethereum price had a spectacular Saturday close on the daily chart, closing above the dominant interior trend line (black diagonal line). Then, on Sunday and Monday, Ethereum continues to press on higher with closes above the Tenkan-Sen and ...

More Ethereum news

The bull and the bear case for BTC

Bitcoin price saw a recent bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. With directional bias and choppy price action, BTC is likely to experience massive volatility as the situation resolves over time. 

Read full analysis

BTC

ETH

XRP