Digital asset Zilliqa (ZIL) has had an exciting few days in 2023. On the first day of the year, the digital asset experienced a local low of $0.01569. Earlier today, the digital asset posted a local peak of $0.02543, a 61.5% increment in the first nine days of 2023.
Zilliqa Gains 42% in a Day, 52% in a Week
Further checking Coinmarketcap.com, Zilliqa has had an eventful 24 hours, gaining by 43% in the last day. The digital asset has also gained 52% in the last week, as seen in the screenshot below.
Zilliqa is Battling to Turn the $0.025 Price Area Into Support
Further checking the one-day ZIL/USDT chart below courtesy of Tradingview.com, it can be observed that Zilliqa is bullishly above the 50-day (white) and 100-day (yellow) moving averages. The digital asset is also attempting to turn the $0.025 price area into support.
However, its daily MFI (green), MACD and RSI (red) hint at an overbought scenario that could result in a pullback in the following days. In this case, Zilliqa could fall back towards the 100-day moving average at the $0.024 support or even lower to the 50-day moving average at the $0.020 support.
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