ZIL TA in Weekly Timeframe

10 Jul

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Now, let’s dive into this chart analysis:

Thirty days ago, ZIL broke down an important support trendline, allowing the price to enter a crucial lower support range between $0.013 and $0.016.

This support range is very crucial for ZIL to hold because if it breaks down and closes beneath this level, ZIL is likely to hit further lower levels.

On the higher side, ZIL is likely to rebound back to the $0.02314 (78%) resistance (previous support), where we also have the 50 EMA acting as resistance.

- Important Support: $0.013 to $0.016.
- Possible Rebounce: $0.02314 (78%).
- Invalidation Point: A breakdown and close below $0.013.

DYOR, NFA.

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