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Zilliqa price analysis: ZIL/USD gains immense momentum towards $0.200

ZIL

TL;DR Breakdown

  • Zilliqa price analysis is bullish today.
  • The strongest support is present at $0.05
  • Ziliqa trading price is $0.088

The Zilliqa price analysis appears to be following a strong upward movement, with the ZIL/USD price breaking the resistance. This may indicate a future reversal movement for the ZIL token. The Zilliqa price analysis reveals a continued bullish trend in the market, and the market moves towards a significantly positive direction, increasing the price of ZILL significantly.

However, the market has shown fluctuating dynamics in the last few hours. As a result, the cost of ZIL experienced a massive upside movement and reached $0.183, from $0.098; on March 30, 2022; however, ZIL/USD continued on an increasing tendency the following day.

Today, on March 31, 2022, the price has been experiencing massive ups and downs, causing the price of ZIL to move up to the $0.215 mark just before declining to $0.188. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. ZIL currently trades at $0.188; as a result, ZIL has been down 5.01% over the previous 24 hours, with a trading volume of $1,651,002,269, ranking #32 with a live market capital of $5,471,101,737.

ZIL/USD 4-hour analysis: Recent developments

The Zilliqa price analysis revealed the market is following a bullish trend as the market increases volatility, forcing the resistance and the support to move apart; now, the price will follow the volatility to whichever extreme it decides. For now, the price is becoming more prone to volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.204, which acts as the strongest resistance point for ZIL. Conversely, the lower limit of the Bollinger’s band is available at $0.132, which acts as the strongest support point for ZIL.

The ZIL/USD price crosses over the Moving Average curve, bulging the market. Moreover, the price seems to move downward, signifying a decreasing movement, indicating future bearish possibilities. Finally, the price appears to move towards the Moving Average, almost meeting it and ultimately causing a reversal in the market, which could cause the cost of the cryptocurrency to decrease significantly.

Zilliqa price analysis: ZIL/USD gains immense momentum towards $0.200 1
ZIL/USD 4-hour price chart source: TradingView

The Zilliqa price analysis reveals that the Relative Strength Index (RSI) score is 79, making ZIL/USD fall well above the overvalued region. However, the RSI score follows a downward trend indicating a declining market and dominance of selling activity.

Zilliqa price analysis for 1-day: Market breaks

The ZIL price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow an opening trend, making ZIL’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.158, which serves as a support point for ZIL. Conversely, the lower limit of the Bollinger’s band exists at -$0.020, which acts as another support point for ZIL.

The ZIL/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. On the other hand, the price seems to be following an increasing activity, showing signs of a growing market. As a result, the price moves toward the resistance, breaking it. A broken market indicates a strong reversal potential.

Zilliqa price analysis: ZIL/USD gains immense momentum towards $0.200 2
ZIL/USD 1-day price chart source: TradingView

The Zilliqa price analysis reveals an overvalued cryptocurrency’s relative strength index (RSI) score of 91. Furthermore, the RSI falls complete inflation region. Therefore, following a linear approach signals a consistent market and represents the buying activity equaling the selling activity, causing the RSI score to remain constant.

Zilliqa Price Analysis Conclusion

The Zilliqa price analysis reveals the market following bullish movement, showing reversal dynamics as the market breaks. As a result, the market offers massive room for a newfound negative movement. Although, as a result, the bears might enter the arena and dominate the market, depreciating the ZIL value while they’re at it.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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