technical analysis and trade signal for the $ZIL /USDT pair, including three target levels and momentum insights:
1. Price Action:
ZIL has been showing an uptrend over the past 24 hours, gaining 5.32%.
The price is currently testing resistance near $0.03750, which is the 24h high.
Support is found at $0.03267, the 24h low, indicating that the market is bouncing between these key levels.
2. Trend Indicators:
Short-term (15m - 1h): The recent price action is showing bullish momentum as the price moves higher, breaking minor resistance levels.
Medium-term (4h): ZIL is in a clear uptrend as it has recently surged above the $0.03500 mark. The upward momentum is supported by the increasing volume and positive momentum.
Long-term (1D): On the daily chart, ZIL shows higher lows and is likely to continue its bullish path as long as it holds above $0.03267.
3. Key Indicators:
RSI: The RSI on the 4-hour chart is approaching the overbought region, suggesting that the price could be due for a short-term correction or consolidation.
MACD: The MACD is in a bullish crossover, supporting continued upward momentum in the short to medium term.
Volume: Higher 24-hour volume of 773.25M suggests strong buying interest, contributing to the momentum.
Trade Signals:
Entry Point:
Buy Zone: If the price retraces to $0.0350 - $0.0355, this area could offer a good entry point for a long position, as it aligns with previous support levels and continues the bullish trend.
Target Levels (🎯):
1. Target 1 (T1): $0.03850 – This is a key resistance level where the price may face selling pressure. A breakout above this level would open the door for higher levels.
2. Target 2 (T2): $0.04000 – A psychological round number and a likely resistance area based on historical price action.
3. Target 3 (T3): $0.04200 – This is a key level that aligns with previous high points, offering a strong resistance zone where the price could potentially face rejection.
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