ZIL is experiencing consolidation between $0.0076 and $0.0089, reflecting a period of sideways movement following a recent decline. The token remains below the 9 and 50 EMA, indicating persistent bearish pressure as bulls struggle to surpass the $0.00825 mark. Market cap saw a decline in mid-October, signaling cautious buyer activity.
Traders are monitoring for a potential breakout above $0.0089, though resistance is strengthening and trading volume is diminishing. Analyst Alphacryptosign characterizes the current market phase as one of indecision, with neither buyers nor sellers asserting dominance. Despite a slight recovery in market cap to approximately $155 million, low trading volume suggests ongoing hesitation among market participants.
ZIL Price Stagnates Amid Bearish Market Conditions
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