Zilliqa is one of the few coins that doesn't really look bearish . Instead, it looks extremely bearish . In the last 4 weeks, the pair has constantly created lower highs and lower lows without any significant attempt to break the two trend lines that put pressure on the bulls. The push got stronger once we have pushed through 0.00001250 and since then the coin went all the way to 0.00000950. Only then, Zilliqa put a minor connection in and gave some signs of life. However, the coin also pushed below the upward trend line that has provided support to the pair on two occasions. Once the price closed below the trend line it traded lower for a day or two before coming back to re-test the trend line , but now as a resistance. As expected, it rotated back lower and pushed for a new low.
In addition to that, Zilliqa pushed through both 127.2% and 161.8% Fibonacci extension lines, which shows the degree to which the coin is bearish . In general, if the price comes back to re-test the broken trend line and it gets rejected again, it is extremely possible to continue in the direction of the break. If you wanted to go long, it is definitely not the right moment now.
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