Zilliqa (ZIL) Bullish Despite a 33% Drop from April 2022 Highs

Zilliqa is down 33 percent in the previous week of trading. However, ZIL is within a bullish breakout pattern and the coin could race back to $0.22 in a buy trend continuation pattern. Past Performance of Zilliqa (ZIL) Technically, buyers are in the driving seat despite the cool-off and retracement from recent highs. After sharp upswings in the last days of Q1 2022, the Zilliqa token price is now pulling back. The coin is stable on the previous trading day but down double digits, shaving 33 percent versus the USDT in the last trading week. Zilliqa Technical Analysis Overall, the path of least resistance remains northwards from a top-down preview. ZIL prices are still trending inside March 30 bull bar with caps at $0.10 and the middle BB to the downside and $0.22 to the upside. Thus far, ZIL is at 78.6 percent Fibonacci retracement level of the March 30 to April 1 trade range, sliding horizontally, signaling strength. Therefore, as long as ZIL prices are above $0.10 and the flexible support line of the 20-day moving average holds steady, every pullback could be an opportunity for buyers to load up. The immediate target will be $0.22. On the other hand, deep, high-volume losses below March 30 low may see ZIL drop to $0.08 and $0.06 in the immediate term. What to Expect from ZIL? Buyers are in control. The pullback from recent highs in the first week of April may offer better entries for optimistic bulls expecting a snap back to ...