$ZIL

ZILUSDT

Entry (0.01600- 0.02300)
SL 1D close below 0.01589

T1 0.03300
T2 0.04400
T3 0.06200
T4 0.08900
T5 0.10000

1 Extra Targets(optional) in chart, if you like to continue in the trade with making stoploss very high
#ZILUSDT #zil #Write2Earn #MarketRebound

$ZIL

ZIL is one of legendary asset in Asia
In another post before I said we are in consolidation after breakout support trendline and now chart dump for ABC correction
Maybe we will see small dump again to flush retail then sideways a bit
🚨🚨
👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸
#ZILUSDT #MarketPullback #BinanceAlphaTop5 #BinanceAirdropsCATandPENGU

Current Price:

$ZIL Spot Price: $0.03482 (-3.22%)

ZIL Perpetual (USDT): $0.03488 (-2.94%)

The weekly chart for Zilliqa (ZIL) suggests a potential reversal as the token approaches critical resistance levels. With a well-established support block and a descending trendline in play, ZIL could be on the brink of a significant breakout.

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Key Technical Observations

1. Support Zone:

A strong support block has formed around the $0.02000 zone. This level has consistently held during previous downtrends, signaling a potential accumulation phase for buyers.

2. Descending Trendline Resistance:

A persistent descending trendline has capped price gains, acting as a formidable resistance. A confirmed breakout above this trendline would indicate a shift in momentum toward a bullish trend.

3. Potential Target:

Should ZIL successfully break above the descending trendline, an upside move of 20% or more could be possible. Key levels to watch for further resistance include $0.045 and $0.050.

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Strategic Considerations for Traders and Investors

Buying Strategy:
Consider a gradual accumulation strategy once ZIL breaks and closes above the descending trendline. This approach mitigates risk while positioning for potential upside.

Risk Management:

Stop Loss: Place stop-loss orders below the $0.02000 support zone to minimize downside risks.

Position Sizing: Avoid overexposure by investing only what you can afford to lose, especially in a volatile market.

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Key Reminders

1. Conduct Thorough Research:
Cryptocurrencies are inherently volatile and speculative. Always perform due diligence before making investment decisions.

2. Diversify Investments:
Balance your portfolio with a mix of high-risk, high-reward assets like ZIL and more stable investments.

3. Stay Updated:
Monitor Zilliqa’s ecosystem developments, partnerships, and broader market conditions, as these can influence price movements.

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Outlook and Next Steps

Zilliqa's long-term potential remains promising due to its innovative approach to scalability and decentralized applications. However, short-term price movements will depend on whether ZIL can decisively break above its descending trendline.

Join the Discussion:
What are your thoughts on Zilliqa’s future? Will it break out and rally, or face more consolidation? Share your insights below!