Zilliqa (Zil) Breaks Down But We Can’t Ignore This Signal


 

Hi friends hope you are well, and welcome to the new update on Zilliqa coin. On a weekly time frame chart, Zil broke out the resistance of a big falling wedge pattern in March 2022, and after getting rejected by the resistance of $0.23 it has dropped down again and re-tested the resistance of the wedge as support. Since then it is still moving above the resistance of the wedge . Now on a daily time frame, Zil has broken down a triangle but found another support at $0.0.035, and volume is also not supping this breakdown because the volume is quite low, and now there is a bullish divergence flashed on this 4-hr time frame chart as the priceline is forming lower low but RSI (relative strength index) is setting higher lows, therefore, a price reversal is possible from here.


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