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

ZIL/USD Medium-term Trend: Bearish

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000

ZILUSD is in a bearish trend in the medium-term. The bears kept the pressure on price with price breakdown at $0.02170 in the lower demand area on June with a large bearish candle. Increased momentum led to a further drop to $0.01840 on 22nd June as the low of the day before exhaustion set in.

A retest of the broken lower demand area occurred before the end of the day with when the bulls pushed price up at $0.02205 before the bearish continuation.

ZILUSD was down to $0.1946 in the demand area as the market opens today as the bears extend their domination as the market opens today. With the signal of the stochastic oscillator pointing down at 45%. This suggests a downward continuation in price in the medium-term.

$0.01800 in the demand area is the bears’ target in the medium-term

ZIL/USD short-term Trend: Ranging

The cryptocurrency is in consolidation in the short-term outlook. The bears sustained the momentum down south as price fell further to $0.01953 as yesterday low within the range as the candle closes with a wick.

Today session opened with the bulls in control of the market and the coin up at, $0.02051.With price above the 10-EMA and the signal of the stochastic oscillator pointing up at 45%. It suggests an upward momentum in price within the range in the short-term.

ZILUSD is in consolidation and trading between $0.02200 in the upper supply area and at $0.01950 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.

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