- ZIL is consolidating between $0.0076 and $0.0089 showing sideways movement after the recent price crash.
- Price remains under the 9 and 50 EMA, with bearish pressure holding as bulls struggle to break past $0.00825.
- Market cap dropped in mid-October,reflecting low and cautious buyer activity.
Zilliqa (ZIL)traders are treading carefully amid uncertain momentum, the token is trading above $0.0076 support level. Volume is fading and resistance is stiffening.
Horizontal Channel Defines Short-Term Market Structure
$ZIL is currently in a horizontal channel between $0.0076 support and $0.0089 resistance on the 4-hour chart. Popular analyst Alphacryptosign, described it as a phase of indecision, neither bulls nor bears gaining control. The range-bound structure suggests traders are uncertain, especially after the price drop around October 10.
The recent consolidation followed a high-volume sell-off, which pushed the price below the 50-period SMA and 9-period EMA.At present, ZIL is trading near $0.00815, remaining under these moving averages, which are acting as resistance in the ongoing bearish pressure.
Candlestick pattern is showing lower wicks and higher lows, indicating that buying interest is developing near the support. However, repeated rejections near the mid-range resistance of $0.00825 suggest a lack of follow-through from bulls.
Short-Term Bearish Bias on 15-Minute Chart
$ZIL is testing $0.00805, with a risk of declining toward $0.00793 if $0.00803 is breached. A rebound may occur if buyers hold the $0.00803–0.00805 zone. And if momentum holds a push towards $0.00810–$0.00811 in the short-term would occur and shift sentiment. However, bearish reversal candlesticks near resistance remain in play for short entries.
According to Alphacryptosign, momentum remains weak without sustained movement above key intraday resistance levels. A sweep below support may open up a short-lived long opportunity targeting the upper channel boundary, but only with confirmation.
Market Cap Drop Mirrors Price Decline
The Zilliqa market cap chart for mid-October shows a steep drop from $175M to around $145M between October 16 and 17. This shows strong bearish price movement seen in the same period. The fall suggests accelerated selling, likely from investor exits or broader market stress.
The market cap has started to recover, now stabilizing near $155M. This suggests some dip-buying interest, although trading volume has been declining since the drop. The lower participation rate points to reduced investor confidence at current levels.
Further upside will require improved sentiment and a decisive move above consolidation resistance on the price chart.The market cap is showing early recovery signs,but the lack of strong volume suggests hesitation among market participants.
