ZIL Update after a miniscule pump.

2022年4月21日

My take is the same as my previous post on ZIL. My sentiment is still bullish on ZIL despite BTC showing some weakness after a rejection to 42k. ZIL currently trading high in volume and is decoupling from BTC. I believed most traders had already entered their positions and late traders are looking for small retracement once an opportunity showed up. This could possibly drive another breakout towards ZIL's previous local top of around 0.2 cents. However, Before this push, I expect people to take some profits but also expect that retracement would be <5%.

Spotted some cup and handle patterns on 4H and daily timeframes. This might be a possible outcome but it does not play out every time.

Staking on Moonlet dropped from over 15% to 14%ish. This is bullish because ZIL has successfully turned buyers into holders by attracting them into their staking pool. This essentially means that more people are staking and locked for 2 weeks, hence staking % is going down. Sell pressure may only come when we meet the key resistance levels I previously posted.

Market may turn ugly at anytime because everything is unpredictable and BTC is the king. I am currently 60% bullish on this trade. Good luck

2022年4月21日

註釋

We are currently seeing a slight retracement of around 6% as expected. Some people took profits and we are at the demand zone now. We shall see some consolidation around 0.12 to 0.13ish before we break higher. I believe there are more buyers than sellers in this zone, a tug of war fight will happen right now and I am on the bull side for the win.

Late longs may be the catalyst to help push ZIL higher to the 0.14 region. If ZIL is able to hold and claim that region from resistance to support, this will be extra bullish.