<strong><em>ZIL Technical Analysis: ZIL price chart shows a bullish breakout of the falling channel pattern teasing a potential recovery rally to the $0.078 mark.</em></strong>

Key technical points:
<ul>
 	<li>The ZIL market value increased by 12.24% in the last 24 hours.</li>
 	<li>Falling channel breakout struggles to rise above $0.058.</li>
 	<li>The 24-hour trading volume of Zilliqa is $365 Million, indicating a hike of 216%.</li>
</ul>
<h2><strong>Past Performance of ZIL</strong></h2>
Starting from April 2022, the ZIL buyers began to exit their position resulting in an uncontrollable downfall, lowering the market value by 75%. The bearish spiral took the shape of a falling channel pattern resulting in the breakout of $0.10 and crossing slightly below $0.050. However, the bullish recovery reclaims the $0.050 threshold with a 13% bullish engulfing candle resulting in the bearish pattern breakout.

<img src="https://s3.tradingview.com/snapshots/p/PEjODe5e.png" alt="TradingView Chart" />

Source- <a href="https://www.tradingview.com/x/PEjODe5e/">Tradingview</a>
<h2><strong>ZIL Technical Analysis </strong></h2>
The increasing market demand for ZIL continues to increase its value during Asian market hours, however, it struggles to reach $0.058. Therefore, the smart investors should look for the retest of the trendline break or $0.058 breakout chance.

Bullish crossovers in the DMI indicator as well as the decline of the ADX line indicate a reduction in bearish momentum, which results in the trend reverse. So, with the current trend moving forward and the upcoming trend reversal, we will soon witness a rising ADX line which is a sign of the rising in the bullish momentum.

The VI lines have reclaimed an upward-facing alignment, thereby sabotaging the previous bearish crossing, and forecasting a high probability of an uptrend continuation. Furthermore, the MACD has a consistently increasing trend on both the slow and fast lines, suggesting a fresh bull run.

In essence, the bullish market environment will propel the price of ZIL over that $0.075 mark.
<h2><strong>Upcoming Trend</strong></h2>
If the breakout rally breaches the $0.058 mark then it will let loose the bullish momentum that has been stifled and may even cross the $0.075 threshold. However, an increase in the intraday trading volume is required for the bullish path to continue.

<strong>Resistance Levels:</strong> $1.50 and $2

<strong>Support Levels:</strong> $1 and $0.68

&nbsp;

<strong>Read More: </strong><a href="https://www.cryptoknowmics.com/news/zil-technical-analysis-sellers-reclamation-plan-of-0-050-starts">ZIL Technical Analysis: Sellers Reclamation Plan of $0.050 Starts</a>

ZIL Technical Analysis: Channel Breakout Intensifies Buying Pressure

ZIL Technical Analysis price chart shows a bullish breakout of the falling channel pattern teasing a potential recovery rally to the $0.078 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ZIL Technical Analysis: Channel Breakout Intensifies Buying Pressure

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