ZIL Technical Analysis: Will Buyers Surpass $0.10 Mark?

ZIL prices show a bullish reversal ready to surpass $0.080, teasing a potential retest of the psychological barrier of $0.10. Should you buy into the rally? Key technical points: ZIL market price falls under $0.10 The daily candle shows a growth of 20%. The 24-hour trading volume of Zilliqa is $498 Million, reflecting a rise of 138%. Past Performance of ZIL The ZIL prices are stuck in a bearish market, as the downswing began after the rejection by $0.20 has turned April scarlet red. The deflation led to the market price falling lower than the $0.080 mark at the end of April. However, the first few days of May are marked with green as the bullish reversal is retesting that $0.80 fallout. Source-Tradingview ZIL Technical Analysis ZIL price action shows a bullish candle spiking above the $0.080 level and challenging the 200-day EMA. However, buyers must wait for closing above the resistance to avoid a bull trap. The bullish rally challenging the 200-day EMA will mark a buying opportunity if the candle manages a closing the obstacles. However, the 20 and 50-day EMA give a bearish crossover marking a short-term selling surge. The MACD and signal lines find a sudden attraction resulting in a decrement in the bearish spread and projecting the possibility of a bullish crossover. Moreover, the falling distribution of MACD histograms represents a bearish weakness. The RSI value finds a sudden surge in underlying bullish as it reverses f...