Home Zilliqa price on the cusp of a short-term reversal as technicals flash sell signal
Crypto News

Zilliqa price on the cusp of a short-term reversal as technicals flash sell signal

  • Zilliqa price could be on the verge of a pullback towards $0.051.
  • A significant indicator has presented a sell signal in the short-term for ZIL.

Zilliqa has been trading inside a robust uptrend on basically all time frames, but it might need to see a short-term correction before resuming the uptrend. The digital asset is one of the few that remains positive in the past 24 hours, while the market enters a consolidation period.

Zilliqa price might need to drop towards $0.051 

On the 4-hour chart, the TD Sequential indicator has just presented a sell signal for the first time since December 19 which turned out to be quite accurate. If the call is confirmed, Zilliqa price could dive towards the 26-EMA support level at $0.051.

zil price

ZIL/USD 4-hour chart

Similarly, on the 3-hour chart, the TD Sequential indicator already presented the same sell signal and Zilliqa price just got rejected from $0.064 after a small attempt to resume the uptrend. 

zil price

ZIL/USD 3-hour chart

Despite the sell signals, it’s important to remember that Zilliqa remains inside a robust uptrend and faces very little resistance to the upside. The next potential price target for the bulls would be the psychological level at $0.07 if the trend continues.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.