ZIL price continues to show impressive gains since last week. The price broke through the prolonged consolidation and rose 100% in one day on Saturday. The ZIL price opened higher and tested the new annual highs at $0.22.

ZIL price extends gains on Thursday. More profit towards $0.25 as volume supports current price action. The price modestly returns after testing multi-month highs around $0.22.

As of publishing time, ZIL/USD is trading at $0.19, up 6.56% for the day. The 24-hour trading volume continues higher with gains of nearly 68% at $7,383,900,502 according to CoinMarketCap.

ZIL price is about to explode

Source: Trade View

On the daily chart, ZIL price is making records every day after breaking the $0.50 mark on March 26. The sudden buying impulse with strong volumes supports the price of ZIL as it rockets in less than a week. Investors gained nearly 450% in the past few days.

After testing the multi-month highs, the price bounced back modestly but remained strong. A daily close above the psychological level of $0.20 will be a deciding factor for another bull run in the asset.

Moving higher will find the first upward target at the USD 0.25 level, the levels last seen in May. Furthermore, an uptick in buying pressure could push the price to create historic highs above USD 0.30.

On the downside, if the price failed to hold the session low, it could revisit the horizontal support line at $15.0. Additional selling pressure would bring Wednesday’s lows back into action at $0.98.

Technical indicators:

RSI: The daily Relative Strength Index is holding near the overbought zone, indicating that the market is overheated. The current position is 88.

MACD: The moving average convergence divergence is trading above the midline with a bullish bias.

Trading volume: The On-balance volume indicator jumps to all-time highs, indicating the demand pressure behind the price increase.

Disclaimer

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

About the author

Rekha started out as a Forex market analyst. Analysis of fundamental news and its impact on the market movement. Develop interest in the fascinating world of cryptocurrency later on. Tracking the market using technical aspects. Investigate analysis of the chain to follow the market.



This post Ziliqa Price Prediction: ZIL Price Tests Multi-Month Highs; Keep your eyes on $0.25

was published first on https://coingape.com/markets/ziliqa-price-prediction-zil-price-tests-multi-month-highs-keep-eyes-on-0-25/

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