• The short-term is in a bullish trend while the medium-term outlook is in a range-bound market.
• Responsible buying may be considered.

ZIL/USD Medium-term Trend: Ranging

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

ZILUSD is in a range-bound market in the medium-term. $0.01948 in the demand area was yesterday low while $0.02205 in the supply area was the high as the bulls lost momentum within the range.

Today’s 4-hour opening candle confirmed the bears' takeover within the range with price initially down to $0.02086. Increased pressure by the bears led to the break of the two EMAs and the cryptocurrency price drops to $0.01957 in the demand area.

The stochastic oscillator signal is down at 42% suggesting downward momentum within the range.

ZILUSD is in consolidation and trading between $0.023000 in the upper supply area and at $0.018478 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: Bullish

The cryptocurrency is in a bullish trend in the short-term outlook. Rejection of upward price movement shortly after today’s opening at $0.02203 result in doji formation. Conformation to the bears' control f the market occurred after the bearish candle formation with a drop in price to $0.02093 in the demand area.

Increased momentum broke the two EMAs and drop price to $0.01957 in the demand area with the candle closing with as a hammer an indication of bearish exhaustion and gradual bulls return.

Price is back up at $0.02116 in the supply area and above the two EMAs as the bullish continuation resume in the short-term. The stochastic oscillator signal points up at 62% an indication of upward momentum.

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