Zilliqa's Thin Ice: A Potential Bullish Turn or a Strong Sell-of

Jun 1, 2023

💎 Today, #ZILUSDT has made contact with a crucial demand zone, simultaneously reaching the lower boundary of an extended descending channel. In tandem with this, we've observed a clean bounce off the 227.2% Fibonacci retracement level. These factors collectively suggest that we might be at the bottom.

💎 If the price manages to stay above today's low, it could signal a shift towards a bullish trend. While we're not necessarily forecasting a long-term uptrend, we can anticipate a relatively strong pullback.

💎 Keep a close eye on the $0.024 resistance level, which corresponds to the commonly observed 61.8% Fibonacci retracement level. If the price manages to break past this point, we could see a double top forming near $0.025.

💎 However, tread lightly, ParadiseClub members. ZIL is treading on thin ice. A new lower low could trigger a strong sell-off. Stay vigilant and join us in monitoring the current price action.

Jun 7, 2023

Trade closed: target reached

💎Paradise Club members, we predicted an upside move in #ZILUSDT, and the price did increase by nearly 10%. However, the daily close failed to breach the 61.8% resistance, resulting in a sharp decline ⬇️.

💎 Now, many are contemplating whether this is an opportune moment to buy #Zilliqa. It's worth noting that the 161.8% Fibonacci level has recently acted as a support, indicating the possibility of a pullback. Nevertheless, given the persistent downtrend, the risk of further downside movement remains elevated ⚠️.

💎 We are closely monitoring the current support level, recognizing its potential impact on the long-term price development of $ZIL. Stay tuned for further updates and analysis.