ZIL Price Analysis: Zilliqa price to go on an ascending curve?

•ZIL/USD is currently priced at $0.022 and has increased by 1.13% over the past day 

•The trading volumes have increased by 2.44% over the past day 

•The technical indicators suggest a positive outlook for the near term 

Short Term View: ZIL Coin aiming to cut ties with bearish sentiment 

The Zilliqa price today is $0.022720 USD with a 24-hour trading volume of $23,233,634 USD. Zilliqa is up 1.13% in the last 24 hours. The trading volumes have increased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.07533 for the altcoin.

ZIL Coin had been one of the best performers in the market until the bears crashed the party in early November. This week has marked the return of the bulls in the market and the asset has been making great strides since then. The Zilliqa price has followed the positive shift in momentum as it is currently transacting above the 20,50 SMA on the four hour chart. In the event of the uptrend sustaining, the bulls would encounter resistance at $0.030 in the coming days. On the other hand, in the event of Zilliqa price tumbling below the $0.020 support level, the bears could make a comeback in the market. 

Long Term View for Zilliqa price 

The RSI for ZIL Coin is currently transacting at 44.74 and a move above the halfway mark will provide further incentive to the bulls to stage a rally. The green histograms have been stable on the daily chart which suggests that ZIL Coin is currently in a period of accumulation. The MACD and signal lines are gradually moving towards the positive territory and one can expect the asset to pick up pace once it does so. 

Conclusion 

The Zilliqa bears look to have their hands full with bulls as they struggle to shrug them off. ZIL Coin is likely to continue its uptrend in the coming days, an outlook that is supported by the technical indicators.

Support: $0.020-$0.015

Resistance: $0.025-$0.030

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.