ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 1
• The medium-term is in a downtrend while the short-term outlook is in a range-bound market.
• Patience is required trading the consolidation.
ZIL/USD Medium-term Trend: Bearish
Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01200, $0.01100, $0.010000
ZILUSD remains is in a bearish trend in the medium-term. The predicted target at $0.01800 in the demand area was attained on 26th June with a large bearish candle. Increased bearish momentum led to ZILUSD further drop to $0.01527 in the demand area. This was the low of the week.
Wicks in the candles in demand signaled bearish exhaustion as the bulls stage a gradual returned. $0.01882 in the supply area was the high at the 50-EMA before rejection and subsequent drop of the coin to $0.01593.
Despite today’s opening on a bullish note at $0.01656 and rise in price to $0.01811, the trendline remained a strong resistance against upward price movement in the medium-term.
A bounce at the trendline is most expected at each touch of price. With the signal of the stochastic oscillator pointing down at 34% and price below the two EMAs, this suggests downward continuation in price in the medium-term. $0.01400 in the demand area is the bears’ next target in the medium-term.
ZIL/USD short-term Trend: Ranging
The cryptocurrency continues in consolidation in the short-term outlook. The lower price range at 01950 was broken over the weekend due to the bears' pressure. Increased momentum pushed the coin further down to $0.01536 before momentum loss.
The bulls manage to push the coin up to $0.01870 but fell back to $0.01616 before the end of yesterday session within the range. The bear remained in controls as the market opens today at $0.01647 with a further drop to $0.01601 as the ranging scenario continues.
ZILUSD is in consolidation and trading between $0.01850 in the upper supply area and at $0.01550 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
Live Zilliqa (ZIL) Price:
1 ZIL/USD =$0.2297 change ~ 0.96%
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