• ZIL/USD market has been under a falling pressure after facing a consolidation move a bit over $0.016 price level.
• It could take a while before seeing the bulls' mustering their energy from the present downturn of the crypto-trade.

ZIL/USD Medium-term Trend – Bearish

• Resistance levels: $0.018, $0.02, $0.022
• Support levels: $0.012, $0.010, $0.008

ZILLIQA has been outweighed by the US dollar price valuation after a line of consolidation movements a bit above $0.016 mark lately to ever see a new low of the market for the first time. On July 10, the fourth 4-hour candlestick that emerged turned bearish to make a start for the current downward movement of the crypto-market.

The Bollinger Middle band has briefly crossed the 50-day SMA indicator around the $0.016 price level. The Bollinger Lower Band has been stretching slowly to the southwards along with the price action. The Stochastic Oscillators have dipped very weakly and briefly past range 20 into the oversold zone.

The bears are now in full control of the ZIL/USD market.. And, the bearish market now, has a greater advantage of getting down further to the bottom line of $0.012 market level in a near time of trading. The bulls seem not to regain energy very quickly.

ZIL/USD Short-term Trend – Bearish

Yesterday, the ZIL/USD market fell from a high point around $0.0177 mark to a low value around $0.0148 or thereabout. After a while, it sprang slightly to trade around $0.016 mark. Today, the crypto has continued to experience a further fall from the market value of $0.016 to now trade at a lower price point around $0.014 mark.

The Bollinger Middle and Lower Band trend-lines now bent slightly to the south. And, the Bollinger Upper Band and the 50-day SMA are closely located around $0.016 price level. The Stochastic Oscillators now slightly point to the south at range 20.

The ZIL/USD market now consolidates around $0.014 price line, and the bears still have a greater chance to push the crypto-trade down more to a low around $0.012 point. The bulls’ forces in the short run may as well cause a decent entry for the bears mostly while price gets rejection around the trend-line of the Bollinger Middle Band.

Zilliqa:

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