- ZIL/USD market may enter other near range zones in the upper or lower outer marks.
- The ZIL/USD market bulls need to break out resistance at $0.0165 price level to affirm bullish potential in the market.
ZIL/USD Medium-term Trend – Ranging
- Resistance levels: $0.018, $0.019, $0.02
- Support levels: $0.014, $0.013, $0.012
The current medium-term trend of ZIL/USD market, it’s observed that lower range moving mode has prevailed over lower high. Quite a while, the market has been ranging down under the trend-line of the 50-day SMA trading indicator. The core range zones are seeable around $0.017 and $0.016 price levels.
An outer extension of the upper range mark has found at $0.018 mark, and that also represents the immediate resistance level of the market. In a similar outlook, the lower range line posses an outer mark at $0.015. The Bollinger Upper Band and the 50-day SMA indicator are located around $0.017 mark. The Stochastic Oscillators now consolidate around range 40.
Most of the indicators show that the ZIL/USD market may continue to hover around its current choppy spots. And, there’s the possibility of seeing the market entering other near range zones in the upper or lower outer marks as mentioned above.
ZIL/USD Short-term Trend – Ranging
There have critical range price movements in the short-term trend of the ZIL/USD market today. Initially, the market was falling almost out of the range zones while it touched a low mark at $0.0153 or thereabout. It has slightly rebounded in the range to hover around $0.0165 mark.
The indicators now point to the east. The 50-day SMA indicator is located between the Bollinger Upper and Middle Band trend-lines. The Stochastic Oscillators have closed the hairs below range 80.
The pair appears struggling to push northwards. But, it has to break out resistance at $0.0165 price level to affirm bullish potential in the market. However, a chain of price touches at that point would most of the result in lowering the market value afterward.
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