Hi dear friends, hope you are well and welcome to the new update on Zilliqa (ZIL).
Triangle and double bottom:
For a long-term period, on a weekly time frame the priceline of Zilliqa is moving in a descending triangle. Now it is at the support of this triangle and there is also 200 simple moving average support as well. The priceline is also at the lower bands of Bollinger bands. Therefore, this is very strong support and lifeline for Zilliqa. The stochastic is also oversold. Zilliqa is also forming a double bottom at this support, which can be another indication for the price reversal from here.
Broke out the channel:
On a 4-hr time frame, Zil has broken out a down channel.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Triangle and double bottom:
For a long-term period, on a weekly time frame the priceline of Zilliqa is moving in a descending triangle. Now it is at the support of this triangle and there is also 200 simple moving average support as well. The priceline is also at the lower bands of Bollinger bands. Therefore, this is very strong support and lifeline for Zilliqa. The stochastic is also oversold. Zilliqa is also forming a double bottom at this support, which can be another indication for the price reversal from here.
Broke out the channel:
On a 4-hr time frame, Zil has broken out a down channel.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
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