ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 8
- The medium-term is in a downtrend while the short-term outlook is in a range-bound market.
- Patience must be exercised during the consolidation.
ZIL/USD Medium-term Trend: Bearish
Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000
ZILUSD remains is in a bearish trend in the medium-term. The supply area at $0.01836 was a key resistance as the bulls lost momentum. Today’s 4-hour opening candle at $0.01733 was bullish.
Price rose to $0.01827 in the supply area before exhaustion sets in.
The bear returned with a large bearish engulfing candle as price fell initially to $0.01650 and later to $0.01632 in the demand area.
Price is below the two EMAs and the stochastic oscillator points down at 35% an indication of downward momentum in the medium-term. $0.01511 in the demand area is the bears' initial target.
ZIL/USD short-term Trend: Ranging
The cryptocurrency remains in a range-bound market in its short-term outlook. The bulls lost momentum at $0.01827 within the range shortly after today’s opening at $0.01726. The bears returned with a large engulfing candle that broke the two EMAs. ZILUSD fell to $0.01654.
Price is below the two EMAs and the signal of the stochastic oscillator points down at 11% an indication of downward momentum within the range in the short-term.
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 =$0.1154 change ~ -1.53%
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