April has begun with a slight correction of the cryptocurrency market as most of the coins are trading in the red zone.
Zilliqa (ZIL) has started the new month with a continued rise, going up by 14% since yesterday.
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.
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.
In addition, the buying trading volume has decreased, which confirms buyers' weakness.
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.