Price Analysis

Zilliqa Exhibits Bullish Divergence & Trades Above $0.015

eToro

Zilliqa (ZIL), one of the top 100 cryptos of the market, is renowned as a payment platform, and it was just yesterday when a chain agnostic DeFi Aggregation Layer, Frontier, joined hands with Zilliqa. This strategic partnership aims at introducing the native token of this extremely productive ZIL token to stake on Frontier Mobile interface. This will lead to accessing the ZIL coin using Frontier.

Alongside this, Zilliqa is getting ready to introduce a feature—ZILSwap in the next five days. With the newest update, investors may expect an appreciation in the price of the coin, which currently trades at $0.0175 after a gradual pullback from the previous month’s high.

The price of Zilliqa is expected to pump soon, although the current movement is intraday bullish after a gradual rise from the 3-month support marked at $0.0127. In this regard, the ZIL/USD has strengthened by over 35% in 9 days from the 3-month lows.

The coin is currently trading in the second half of the range amongst the top 100 cryptos and is, therefore, gaining massive insight on social media. Zilliqa has, therefore, lured a total Galaxy score of 81/100 in the market as per LunarCRUSH, which indicates positive market sentiment irrespective of the current price dynamics.

Zilliqa Price Analysis

Zilliqa Price News
ZIL/USD Chart By TradingView

Today, Zilliqa’s price was seen trading at $0.0175 with a bullish candlewick against the US Dollar on the daily chart. At the onset of June 2020, when ZIL/USD hit a fresh YTD high and yet another lower high at the beginning of the previous month. But the ongoing quarter has been volatile, and the price trend of ZIL coin drew a steep bearish crossover when it tested lows around MA200, which currently lies at $0.014.

However, the currency lacks support from 50-days MA as it continues to trade below $0.020. After intersecting the lower BB in the past ten days, it is now inclined towards the upper BB with a current bullish divergence. The MACD indicator records bullish crossover, and the RSI is trending towards the overbought region along with the improvement in the price of Zilliqa.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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