Zilliqa is looking for a new way to ascend. Continuity of the techniques can drive the price above $ 0.2.
Elrond cannot get rid of the bearish momentum, the decline can continue up to the $ 120 band.
The Zilliqa (ZIL) has been a self-talked-about asset that has benefited from the altcoin rally since December. ZIL has grown significantly since the beginning of this year. It rose as high as $ 0.16 last week in the $ 0.05 band. Witnessing an increase of up to 140%, ZIL spent its last week with a decrease and hesitation. The asset, which descended below the $ 0.138 resistance level, attempted the resistance test again from the lower support point at $ 0.115, but the asset had to come back from resistance. The latest data can change the hesitation period.
The asset, which had a horizontal movement last month, provided an upward movement this month. The asset, which rose to $ 0.16, is currently above the $ 0.129 support level and is trading at $ 0.135.
For ZIL, the charts seem to have accelerated into a contraction movement resulting from the downward pressure on the price. An asset that can find a place for itself above the support level can create a break-through movement at the end of this contraction. For ZIL, a breakout move can initiate an uptrend after the price breaks the resistance level.
The contraction in Bollinger bands on the ZIL 4 hour charts also confirms the process. The entity that is beginning to narrow has the potential to jump in a direction. On the hourly charts, RSI, Stochastic RSI and MACD data seem to be in an upward trend. Stochastic RSI data in hourly data has moved above 80 basis points and is heading to the overbought point. The bull activity will be effective in price increase at this point.
Moving average data show that the price is below average during the day at 20-MA. However, the increase in buy signals for the price and the high volumes with bullish activity brought the price above the average. The last hourly candlestick charts also gave a green light on the rise. In this case, it may bring the price pressure to the resistance point of the support level in the coming hours.
For this asset, this mobility can break resistance as the bulls above the moving average raise the price. In this case, it seems quite possible to see the level of $ 0.19-0.20 for ZIL. However, the recent declines show that the price has long resisted below the averages in the MA and SMA data. This means that the value for ZIL must be increased above the averages. Rejecting the resistance level could push the price again to the $ 0.09 support point.
Elrond is another rising and eye-catching asset of recent months. Despite being considered younger, he experienced a rapid rise. The asset, which has appreciated by 900% since 2021, was aiming to sign a new move. However, a return from resistance may continue the decline.
Earlier this month, the asset, which was stuck in the $ 65 band, broke the resistance at $ 70 and closed its trend with a rise of $ 215 in a few days. Although this movement results in a retreat of the price with the effect of selling pressure, the increase may occur again.
It seems that the bullish signals for the asset that aims to find an effective place in the DeFi movement will be supported by the latest developments. So much so that in the coming months Elrond will experience a development called DeFi 2.0. With its entry into the DeFi ecosystem, it will be an alternative to the high gas cost and systemic deficiencies of the ETH Blockchain.
Having seen a downward trend for a while, EGLD managed to get rid of this acceleration channel as of yesterday. This move may be a bullish support sign, but has not yet recovered from the bearish effect. The asset, which broke from $ 150 to $ 165, fell again during the day and is forced back into the channel boundary. EGLD, which returned empty-handed from the support it faced in the $ 160 band, is currently trading at $ 143.85.
The last hourly data is at 45 points for the RSI and seems to have cut its signals for a bullish run. Another parameter where the slope is below is the MACD indicator. The MACD data appears to be in the negative zone and reversing its direction.
SAR data show the selling pressure on the chart, and with it, the CMF indicator reports a serious drop in demand. This decline in demand can trigger a further drop in price in the short term.
Looking at the Fib retracements, the continuation of this decline and the drop from the local support point at $ 142 will force the EGLD to retreat to $ 121.