Zilliqa Price Analysis: Will ZIL Retest $0.032 Level?


  • Zilliqa(ZIL) records downward movement today.
  • ZIL/USD pair trading below EMA(20).
  • In terms of ZIL support floor, it is now $0.029.
  • 24-hour trading volume for Zilliqa is hovering at $18,918,002.00.

07 December 2022 : In this article we will walk you through Zilliqa price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Zilliqa, Is ZIL a good investment? Zilliqa support & resistance levels etc. But before diving deep into the ZIL technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $840,321,075,815. The total trading volume stands at $38,522,880,633. Bitcoin shares 38.54 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,844.43 level after a decline of -0.88%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.95 percent reaching to $1,230.44 during the previous 24 hours.
While publishing this blog, BNB traded at $283.83, following a price change of -1.78%within the same time frame. XRP the native coin of XRP is down by -1.88 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.98% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Zilliqa Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Zilliqa (ZIL)

ZIL Resistance Levels ZIL Support Levels
Resistance Level 1 $0.032 Support Level 1 $0.029
Resistance Level 2 $0.033 Support Level 2 $0.027
Resistance Level 3 $0.035 Support Level 3 $0.025

Zilliqa Performance

The price of Zilliqa (ZIL) is at $0.022, down -2.59% in the past 24-hours and has a price change of -4.41% over the week. One day trading volume for BTC is 18,918,002.00 USD while total marketcap reached $296,561,238.00 USD. There are almost 13,624,360,641 are in circulation out of 16915827794.

Zilliqa Price Analysis

ZIL price analysis for 07 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Zilliqa.

Moving Averages Price Indicator
Simple Moving Average (10) 0.031 Sell
Exponential Moving Average (10) 0.031 Sell
Simple Moving Average (20) 0.031 Sell
Exponential Moving Average (20) 0.031 Sell
Simple Moving Average (50) 0.033 Sell
Exponential Moving Average (50) 0.033 Sell

While ZIL’s Williams %R indicator is at -31.828 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The Zilliqa has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take ZIL price below the crucial support level of $0.029. The relative Strength Index (RSI) indicates that the ZIL coin is in consolidation zone, as RSI is at 45. The ZIL/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

As of now, Zilliqa is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the ZIL move into the positive zone. In 2022 and beyond, the Zilliqa price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.