ZIL Technical Analysis: Weekly Breakout Demands $0.10 Retest

ZIL coin price shows a phenomenal bullish breakout in the weekly chart, touching $0.15. However, the sellers demand a retest of $0.10. Key technical points: The MACD and signal lines enter the positive territory. The ZIL coin price has increased by 2.37% within the last 24 hours. Finally, the 24-hour trading volume of Zilliqa is $1.33 Billion, marking a 200% rise. Past Performance of ZIL The ZIL coin price action shows a phenomenal bullish breakout of a falling wedge pattern in the weekly chart. The breakout rally started from the dip at $0.038 to forming a peak at the $0.15 mark. However, the uptrend fails to surpass the $0.15 and faces higher price rejection resulting in a 22% fall last week. Source-Tradingview ZIL Technical Analysis ZIL coin price shows a retracement rally approaching the $0.10 mark to retest the bullish breakout. Hence, a bearish weekend is in order for the Zilliqa coin as the selling pressure increases. The crucial daily EMAs maintain a bullish alignment in the weekly chart with a significant rise in the 50 and 100-day EMA to avoid bearish crossover. Hence, the EMAs play a substantial role in dynamic support in case of a downtrend. RSI Indicator: The weekly-RSI slope shows a retracement from the overbought boundary and approaches the halfway line. Moreover, the 14-week average line shows a parabolic reversal from the nearly oversold zone. MACD Indicator: The MACD and signal lines enter the positive territ...