Zilliqa (ZIL) Is Set for a Huge Breakout

After hitting the low of $0.0509 on July 20, 2021, Zilliqa has indicated an end to its positive sentiment for the year. But out of the blue, a huge buying began that helped ZIL turn into a bullish momentum with a good upside of 67% to $0.0851. Currently, we can witness some consolidation before a breakout as all the indicators and signs are biased towards a positive momentum. ZIL has an immediate resistance of 50 day moving average line followed by a long term selling zone of $0.0974. 

Before it can truly be called a trending bullish asset, Zilliqa price needs to surpass these immediate resistance levels. Prior to crossing these levels, we can consider ZIL to trade higher. Any chances of turning into a dollar will take some time, one must wait till the year 2025 for that to happen. 

Zilliqa Price Analysis

Zilliqa cryptocurrency has shown a uniquely positive price momentum in the last seven days. Even after a good 67% move from the lows, there is a scope of further up move to the levels of $0.100 levels.

Zilliqa Price Analysis

ZIL seems to follow the trend line. It is currently eyeing the $0.0974 resistance levels. After breaching the resistance at $0.1000, it will face another selling zone at $0.1376 before it enters the non chartered price range. An increase in volumes and transactions has helped ZIL make a significant move to consider it ready for a bigger movement as per our Zilliqa price prediction. Currently, RSI is trading at 55 which is three months high, giving an indication of the positiveness. MACD is also indicating the current swing to be positive and far from being over.

Zilliqa Price Analysis Chart

Zilliqa is trading with respect to the trend line and Heikin Ashi charts indicate good strength in its price action. We are witnessing RSI trade close to overbought zones and MACD to indicate positive movement on the current swing. It should test the immediate resistance in the next one or two swings.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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