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Zilliqa (ZIL) Price Analysis for April 1

Fri, 04/01/2022 - 11:22
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Denys Serhiichuk
Is it possible to see further growth of Zilliqa (ZIL)?
Zilliqa (ZIL) Price Analysis for April 1
Cover image via www.tradingview.com

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April has begun with a slight correction of the cryptocurrency market as most of the coins are trading in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

ZIL/USD

Zilliqa (ZIL) has started the new month with a continued rise, going up by 14% since yesterday.

ZIL/USD chart by Trading View
ZIL/USD chart by Trading View

ZIL has formed a new level at $0.2307. From the local point of view, the altcoin may test the support at $0.20172 by the end of the day. However, as the selling volume increases, there is a chance to see the breakout and further drop to the zone around $0.18 soon.

ZIL/USD chart by Trading View
ZIL/USD chart by Trading View

From the mid-term point of view, Zilliqa (ZIL) could not fix above yesterday's peak yet. If nothing changes by the end of the day, the decline may continue to yesterday's low at $0.17263.

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In addition, the buying trading volume has decreased, which confirms buyers' weakness.

ZIL/USD chart by Trading View
ZIL/USD chart by Trading View

On the weekly time frame, ZIL has broken the resistance at $0.15482; however, it could not set a new peak. If bulls cannot do it by the end of the week, the altcoin may retest the purple line that serves the support now. Such a scenario applies to the mid-term and can occur by the end of the month.

ZIL is trading at $0.20587 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.