ZIL Breakout Could Be Beginning of New Upward Trend

2020-10-7 14:18

The Zilliqa (ZIL) price has broken out from a nearly two-month-long resistance line. After a slight retracement, the price is expected to resume its upward movement.

ZIL has been decreasing since Aug 11 when the price closed at a local high of $0.028. Throughout this time, the price has been following a descending resistance line.

ZIL Breakout and Retracement

On Sept 30, the price broke out and proceeded to reach a wick-high of $0.0217 on Oct 5.  The high was slightly above the 0.5 Fib level of the entire decrease but fell back below the area shortly after.

Currently, the price is trading between the support and resistance levels of $0.0177-$0.0205.

ZIL Chart By TradingView Trading Range

Despite the decrease, technical indicators in the daily time-frame are bullish. The MACD, RSI, and stochastic oscillator are all increasing. Furthermore, there is no bearish divergence in any of these indicators.

If the price continues increasing, the next resistance area will likely be found at $0.024.

ZIL Chart By TradingView

The short-term chart shows considerable weakness in the form of bearish divergence in both the RSI and MACD. This is a sign that the price is likely to decrease.

The 0.5 Fib level of the entire upward move coincides with the previously mentioned support area at $0.017, making it a likely reversal area.

ZIL Chart By TradingView Wave Count

Since reaching a high of $0.029 on June 11, it seems that ZIL has successfully completed an A-B-C corrective pattern (shown in black below), in which the A:C wavelength ratio is very close to 1:1.

The fact that the C wave is comprised of five sub-waves (blue) makes this likely to be the correct count.

If so, the price began an upward move on Sept 21 with a low of $0.0127.

ZIL Chart By TradingView

The shorter-term chart shows that the price has completed a bullish impulse (red) and has now only the C wave left to complete before resuming its upward movement.

The 0.5 Fib level is found at $0.0168. A decrease below the previously mentioned low of $0.0127 would invalidate this particular wave count.

ZIL Chart By TradingView ZIL/BTC

Cryptocurrency trader @CryptoTony_ outlined a ZIL/BTC chart, which forecasts the price increasing above the June highs of 321 satoshis.

Source: Twitter

Similar to its USD counterpart, ZIL/BTC has also broken out from a descending resistance line (in black below). At the time of press, the price was in the process of validating the resistance as support.

Technical indicators are bullish, indicating that the price is expected to continue moving upwards. If it does, the next closest resistance area is found at 225 satoshis, while the closest support is at 142 satoshis.

ZIL Chart By TradingView

For BeInCrypto’s latest Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

The post ZIL Breakout Could Be Beginning of New Upward Trend appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Цена в час новости $ 356.9 (30.88%)

price zil upward movement expected resume decreasing

Источник: beincrypto.com

price zil → Результатов: 48


Фото:

Will XVG’s Increase Mirror That of ZIL?

After breaking out from a long period of consolidation, ZIL increased by more than 400% in roughly a month. XVG’s recent price action suggests that it too could go on a similar run. Zilliqa (ZIL) In the period from April 30 to June 11, the ZIL price increased by 424%, reaching a high of 307 […] The post Will XVG’s Increase Mirror That of ZIL? appeared first on BeInCrypto.

2020-6-16 00:00


Zilliqa Price Analysis ZIL / USD: In The Bear’s Jaws

Zilliqa has a bearish short-term trading bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that the ZIL / USD pair is attempting a bearish breakout from a wedge pattern The daily time frame continues to show a bearish technical breakout in action […] The post Zilliqa Price Analysis ZIL / USD: In The Bear’s Jaws appeared first on Crypto Briefing.

2019-8-2 16:39


Zilliqa Price Analysis ZIL / USD: Riding On Chainlink

Zilliqa has a bearish short-term trading outlook, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that the ZIL / USD pair still remains trapped within a wedge pattern The daily time frame continues to show the invalidation of a large inverted head and […] The post Zilliqa Price Analysis ZIL / USD: Riding On Chainlink appeared first on Crypto Briefing.

2019-7-31 16:42


Zilliqa Price Analysis ZIL / USD: Prison Break, Round 2

Zilliqa has a bullish short-term trading outlook, with the cryptocurrency still holding price above its 200-period moving average on the four-hour time frame The four-hour time frame continues to show a large inverted head and shoulders pattern The daily time frame is showing that the ZIL / USD pair is probing towards the top of […] The post Zilliqa Price Analysis ZIL / USD: Prison Break, Round 2 appeared first on Crypto Briefing.

2019-6-11 16:10


Zilliqa Price Analysis ZIL / USD: Approaching Breakout

Zilliqa has an increasingly bullish short-term trading outlook, with the cryptocurrency probing towards the April high The four-hour time frame now shows a valid bullish inverted head and shoulders pattern The daily time frame is showing that the ZIL / USD pair is testing towards the top of its yearly price range Zilliqa / USD […] The post Zilliqa Price Analysis ZIL / USD: Approaching Breakout appeared first on Crypto Briefing.

2019-6-7 16:52


Zilliqa Price Analysis ZIL / USD: Escaping With The Goods

Zilliqa has a bullish short-term trading bias, with the cryptocurrency still well supported on any moves lower The ZIL / USD pair has a bullish medium-term outlook with cryptocurrency still trading above its 200-day moving average The daily time frame is showing that price remains trapped within a horizontal price channel Zilliqa / USD Short-term […] The post Zilliqa Price Analysis ZIL / USD: Escaping With The Goods appeared first on Crypto Briefing.

2019-6-4 16:50


Zilliqa Price Analysis ZIL / USD: Jumping Above The Average

Zilliqa has a bullish short-term bias, with the cryptocurrency advancing to a new monthly trading high The ZIL / USD pair has a bullish medium-term outlook and is now trading above its key 200-day moving average The daily time frame is showing that a large bullish pattern may be forming Zilliqa / USD Short-term price […] The post Zilliqa Price Analysis ZIL / USD: Jumping Above The Average appeared first on Crypto Briefing.

2019-5-22 16:49


Zilliqa (ZIL) Price Analysis and Prediction 2019 – Approaching The Crucial Breakout Level at 280 Sats (May 21st Update)

Mid May Update: Technicals Daily ZILBTC The falling wedge pattern played out as expected, we saw a mild breakout and Zilliqa jumped up by 50 sats. Right now, Zilliqa needs to climb up above the falling trendline at 255-260 sats and close above it so we can have a stronger signal of a bull run.

2019-5-21 17:50


Zilliqa (ZIL) team working on stable coin project: Need patience from the community

Altcoins are not performing so well at the moment, and investors are feeling the heat. In most projects, investors are getting frustrated with the lack of any significant bullish price action. This is quite understandable given that Bitcoin is already up by over 100% with little action in the altcoins market. One altcoin where the […]

2019-5-21 12:32


Zilliqa (ZIL) Price Prediction 2019 – Slow Leakage of Value Continues (Early May Update)

Early May Update: Technicals Zilliqa’s daily ZILBTC chart still looks bleak – ZIL is welded in a descending channel, currently sliding along the bottom line of that channel. Intermediate trend is bearish and we would need a strong break through the upper line of the descending channel on a strong volume to confirm a trend […] The post Zilliqa (ZIL) Price Prediction 2019 – Slow Leakage of Value Continues (Early May Update) appeared first on CaptainAltcoin.

2019-5-3 18:13


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

ZIL Bounces and Aims for New All-Time High Price

ZIL is expected to continue moving upwards, at least until it reaches a new all-time high price and potentially move higher. Current ZIL increase ZIL has been moving upwards since April 22, when it bounced and reclaimed the $0.

ZIL Shows Weakness, DGB and NANO Reclaim Key Levels

Digibyte (DGB) has broken out from a horizontal resistance level but is approaching a Fib resistance. Nano (NANO) has broken out from a descending resistance line. Zilliqa (ZIL) ZIL has been increasing rapidly since the beginning of the year.