Zilliqa Cryptocurrency Forecast
A very strong day for Zilliqa cryptocurrency price on Friday
(Updated on May 03, 2024)
The Zilliqa cryptocurrency price gained 6.60% on the last trading day (Friday, 3rd May 2024), rising from $0.0227 to $0.0242. During the last trading day the cryptocurrency fluctuated 7.27% from a day low at $0.0226 to a day high of $0.0242. The price has fallen in 7 of the last 10 days and is down by -10.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $377.41 thousand.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0228 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 14.66% during the next 3 months and, with a 90% probability hold a price between $0.0261 and $0.0454 at the end of this 3-month period.
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ZILUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Zilliqa has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zilliqa cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0245 and $0.0286. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, March 30, 2024, and so far it has fallen -35.70%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zilliqa cryptocurrency
Zilliqa finds support from accumulated volume at $0.0237 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0016 between high and low, or 7.27%. For the last week, the cryptocurrency has had daily average volatility of 12.36%.
Our recommended stop-loss: $0.0228 (-6.08%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (ZILUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Zilliqa to open at $0.0237, and during the day (based on 14 day Average True Range), to move between $0.0214 and $0.0271, which gives a possible trading interval of +/-$0.0029 (+/-11.78%) up or down from last closing price. If Zilliqa takes out the full calculated possible swing range there will be an estimated 23.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0237 (2.27%) than the resistance at $0.0258 (6.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zilliqa cryptocurrency A Buy?
Zilliqa holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.582 Hold/Accumulate Unchanged
Predicted Opening Price for Zilliqa of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $0.0237 ( 2.26%) | $0.0242 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZILUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0253 | 4.52 % | |
| R2 | 0.0247 | 1.93 % | ||
| R1 | 0.0243 | 0.330 % | ||
| Current price: | 0.0242 | |||
| Support | S1 | 0.0231 | -4.85 % | |
| S2 | 0.0227 | -6.45 % | ||
| S3 | 0.0220 | -9.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0303 | 24.88 % | |
| R2 | 0.0275 | 13.37 % | ||
| R1 | 0.0258 | 6.27 % | ||
| Current price | 0.0242 | |||
| Support | S1 | 0.0237 | -2.27% | |
| S2 | 0.0235 | -2.94% | ||
| S3 | 0.0230 | -5.08% |
FAQ
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