The price has reacted positively to the strong monthly support

٩ يناير ٢٠٢٣

ZIL has registered a growth of more than 45% in the last 24 hours. The price has reacted positively to the strong monthly support area, confirming the fake breakout of the previous floor support area at $0.020. Therefore, due to this high buyer power, if the daily candle closes strong, pullbacks can create strong positive reactions. One of the resistance levels that can cause many negative reactions is considered in the range of $0.027 to $0.030.

Therefore, considering the high power that can be created at this level, the possibility of forming a range area below this resistance is high. The potential for a trend reversal is built into the daily time frame, and simply making a higher floor that leads to a higher ceiling can help reverse the trend. The bullish candles are in the spike phase on the 4-hour time frame, which, if a pullback is observed, can enter a narrow bullish channel to fully hit the plotted resistance. If ZIL breaks through resistance, it has a high potential for further growth in the long term and very high targets.