Connect with us

Bitcoin News

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – June 10



Successful Mainnet Launch Doesn't Help Zilliqa (ZIL) Improve Crypto Rankings

Successful Mainnet Launch Doesn't Help Zilliqa (ZIL) Improve Crypto Rankings

  • The short-term is in the downtrend while the medium-term outlook is in a range-bound market.
  • Selling opportunity at key area 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 continues in a range-bound market in the medium-term. The bullish pressure was sustained with a breakout at the upper supply area on 6th June. ZILUSD rose to $0.02633 in the supply area before exhaustion with spinning top formation.

The bears returned was signaled with the break at the 10-EMA support area as price dropped initially to $0.02214 and later to $0.02091 before the end of yesterday session. ZILUSD was back in the range as the cryptocurrency continues in the range.

ZILUSD is in consolidation and trading between $0.023000 in the upper supply area and at $0.018480 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: Bearish

The cryptocurrency is in a bearish trend in the short-term outlook. The attempt by the bulls to push price higher at the trendline was met with a bounce due to rejection and bears gradual return.

The bulls are in control of the market at $0.02091 in the demand area as confirmed by the hammer formed at this area. ZILUSD rose to the trendline at $0.0207 with wicks formation which implies the bear area gradually taking over and the expected bounce to the downside imminent.

$0.02050 in the demand area is up for retest as the bearish momentum increase in the short-term.

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

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Recent Posts

Copyright © 2019 The Crypto Report