- Zilliqa’s uptrend has hit the tipping point due to the seller congestion at $0.036.
- A sell signal on the 4-hour chart doubles down on the anticipated breakdown.
Zilliqa seems poised to correct after sustaining an uptrend from the support at $0.022. The token has encountered a robust resistance area at $0.036 in addition to the ascending parallel channel’s upper boundary. Selling pressure is likely to increase at the current price levels, leading to a breakdown, perhaps to $0.03.
Zilliqa is on the cusp of a massive correction
ZIL/USD is teetering at $0.035 amid a bearish building momentum. Its immediate upside is limited by the immense seller congestion at $0.036. Besides, buyers appear to be exhausted due to the failure to rise above the channel’s upper boundary. […] Continue Reading