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Zilliqa price prediction: ZIL price hits critical support

 


The Zilliqa course has arrived at crucial support. Will the ZIL course be able to bounce off it or fall even lower?


The Zilliqa course is at crucial support

After the high in 2021, the Zilliqa price formed a lower high at the beginning of this year, closing in the monthly chart at the golden ratio resistance at around USD 0.178. The Zilliqa price then returned to around USD 0.03.


The ZIL price is now encountering critical support between USD 0.0268 and USD 0.0332. There, the Zilliqa course could bounce to target the next Fibonacci resistances around $0.1 and $0.16. Additionally, the MACD histogram is starting to tick bullishly higher this month.


However, the MACD lines are still bearishly crossed and the RSI is neutral.


Will Zilliqa price rally to the 50-week EMA?

In addition, the Zilliqa price is in a parallel downward channel on the weekly chart and Zilliqa is already encountering significant resistance at the 50-week EMA at the upper end of the downward channel at around USD 0.0593.


The MACD shows itself undecided in the weekly chart, because the MACD lines are on top of each other and the histogram ticks alternately bullishly higher and bearishly lower. The RSI gives neither bullish nor bearish signals.


On the daily chart, the death cross is intact, confirming the bearish trend

In the daily chart, however, the MACD lines are about to cross in a bullish manner. In addition, the histogram of the MACD is ticking bullishly higher. Nonetheless, the EMAs' death cross is intact, confirming the trend bearishly in the short to medium term.


On the 4H chart, the Zilliqa course was bearishly rejected at the 0.382 Fib resistance

In the 4H chart, the MACD lines are bullishly crossed, but the histogram is ticking bearishly lower. In addition, the Zilliqa price is already encountering significant resistance at the 0.382 Fib level at around USD 0.0337.


If ZIL breaks this resistance, the next significant Fib resistance awaits at the 200-4H EMA around $0.036.


The ZIL course is now also encountering important support against BTC


The ZIL course is now also encountering significant support against BTC, which runs between 0.00000129 BTC and 0.00000168 BTC. If the ZIL price bounces off it, ZIL will again find significant resistance at the Golden Rato at around 0.0000043 BTC.


In addition, the Zilliqa price formed both a higher low and a higher high in the monthly chart. Furthermore, the MACD lines are crossed bullishly.


The histogram of the MACDs has been ticking bearishly lower in the monthly chart for several months.


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