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Zilliqa Price Analysis: Bearish Outlook in the Short to Medium Term

Zilliqa ZIL: is a Bear Market RALLY Coming?
Zilliqa ZIL: is a Bear Market RALLY Coming?

This video discusses the recent price action of Zilliqa and predicts potential future movements in the market. The analysis is based on the one-hour and daily time frames.

Technical Analysis

On the one-hour time frame, Zilliqa is in a bearish structure that started recently. The price experienced a rally followed by a drop, suggesting the completion of a five-wave move to the downside. Nick anticipates a short-term upward move, targeting the 200 EMA.

On the daily time frame, Zilliqa is in a long-term bearish structure. The “CTS” indicator is mentioned as a confirmation of the bearish structure. Nick discusses the possibility of new bear market lows.

On the weekly time frame, momentum is shifting upward, but lower highs and lows continue. Nick speculates a longer-term play with the possibility of a push toward the 50 EMA. However, the expectation is a return to new bear market lows after this bear market rally.

Conclusion

The technical analysis of Zilliqa suggests a bearish outlook in the short to medium term. Investors and traders should be cautious and exercise proper risk management when trading ZIL.

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