ZIL/USDT Technical Analysis: Buy or Hold? 🚀
The current chart for Zilliqa (ZIL) shows some interesting movements. After a recent surge, we are seeing a minor retracement. Here is the breakdown:
1. Price Action & Trend:
ZIL is currently trading around $0.00533, showing a dip of about 8.42% in the last 24 hours. The long upper wick at $0.00618 indicates selling pressure at higher levels, but the overall structure is forming higher lows.
2. Key Levels to Watch:
Support: Strong support is sitting at $0.00428. As long as the price stays above this, the bullish sentiment remains.
Resistance: The immediate hurdle is $0.00618. A daily close above this could spark a massive rally.
3. Indicators (RSI & Volume):
The RSI is at 53.68, which is neutral. This means there is plenty of room for the price to move in either direction without being overextended.
Trading volume remains healthy, suggesting that buyers are still active on the dips.
Trading Strategy: 💡
For New Buyers: Consider accumulating in the $0.00500 - $0.00515 zone.
For Holders: If you are already holding, it is wise to HOLD. The market is testing support, and a bounce back is highly likely.
Target: First Target: $0.00618 | Second Target: $0.00680+
#zil $ZIL