Looks like $ZIL has been on a pretty consistent downtrend since yesterday afternoon. We had a brief bounce around $0.0125, but that resistance held strong and sellers stepped back in.
Volume seems to be tapering off a bit on these most recent red candles, which could suggest some exhaustion from the bears, but we're not seeing any significant bullish volume come in to counter it yet.
Right now, we're hovering around $0.01179. If we can find some support here and consolidate, maybe we see a small relief rally back towards $0.0120-$0.0122. But if this level breaks, the next significant support looks to be down around the $0.0115-$0.0113 area.
I'm watching for a clear break above that local resistance, or a strong bounce off of lower support before considering any long positions here. Bearish momentum is still very much in control.
