Zilliqa Price Analysis: ZIL finds support at $0.08217, set to drop further?

TL;DR Breakdown Zilliqa price analysis today yields a bearish trend, as the price is 2.5% down from yesterday.The cryptocurrency has found support at $0.08217, which currently holds.The current price is at $0.08281, with the nearest resistance at $0.0848. Zilliqa price analysis for today is bearish as the ZIL/USDT pair is trading above the nearest support at $0.08217. The support currently holds as the bears are taking charge. If continued, the buying pressure might take the price of Zilliqa below the current support. Considering the data Coinmarketcap, the 24-hour trading volume of Zilliqa is down by 34.16%. This means the trend has turned bearish. Day traders have sold their tokens, and according to our Zilliqa price analysis, further downside movement is possible. Yesterday, Zilliqa dropped from $0.09305 to $0.08492, showing a negative 8.73% change. This movement turned the entire price movement bearish, while Bitcoin fell by almost 8% in a single day after the China crackdown announcement. Zilliqa price analysis: Technical indicators remain bearish Zilliqa price analysis shows us that the key Moving Averages are currently above the price action. This is a bearish indicator in the short term, i.e., on the 4-hour chart. Once the bulls take advantage and take the price of Zilliqa upwards to reclaim the 50-day and the 100-day Moving Averages, the bearish trend will continue. Another important observation from the 4-hour ...