• The short and the medium-term outlook is in a range-bound market.
• Patience is required in trading the consolidation.

ZIL/USD Medium-term Trend: Ranging

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01200, $0.01100, $0.01000

ZILUSD is in consolidation in the medium-term. The weekend had the bears in control within the range with $0.01146 as the high while $0.009657 was the low during the session. The bears sustained the momentum as the market opens today at $0.01030 with an inverted bearish doji.

ZILUSD dropped to $0.009904 with the candle closed as a hammer an indication of a reversal imminent within the range. Price is up at $0.01034 but below the two EMAs with the stochastic oscillator in parallel at 34% which is a reflection of ranging scenario.

ZILUSD is in consolidation and trading between $0.01150 in the upper supply area and at $0.009500 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.

ZIL/USD short-term Trend: Ranging

The cryptocurrency is in a range-bound market in its short-term outlook. The bulls had a brief control during the weekend before the bears took control of the market as price fell to $0.0009697 breaking the lower price range but the candle closed within the range.

Today’s opening price at $0.001017 is sustained the bears' pressure with a drop in price to $0.0009904. Price is below the two EMAs and the stochastic oscillator signal points down at 38% suggesting a downward movement in price within the range in the short-term.

$0.001100 is the upper supply area while $0.001000 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.