Zilliqa had been under strong bears ever since the cryptocurrency peaked at the bull run of 2021. After establishing an all-time high of $0.25, Zilliqa coin succumbed to market corrections and had been struggling to regain strength. However, the shift in the overall market sentiment has resulted in the cryptocurrency’s possible trend reversal.
At the time of writing, Zilliqa coin stands at a price level of $0.078. The price of the cryptocurrency has increased by 17% in the past twenty-four hours while the weekly performance shows a growth of 27%. The trading volume of ZIL has surged by 363% in the past twenty-four hours alone.
Zilliqa Coin technical analysis
The market sentiment for Zilliqa crypto is bullish given the recent upside move. Out of the total twenty-six technical indicators, ten are giving out an indication of buy with nine indication at a neutral position. Seven of the total are suggesting a sell position. The oscillators are mainly neutral while the moving averages are bullish.
ZIL coin has broken a descending trend line with the current bullish momentum. A trader’s analysis has identified a steep upward trajectory for Zilliqa coin in the upcoming days. The cryptocurrency is expected to reach towards $0.14 although with up and down movements. A strong support level also lies at $0.057. ZIL coin can be expected to stabilize at the support level if the bears dominate the market again.
ZIL coin price prediction
Zilliqa blockchain aims to solve the problem of scalability and speed in the crypto space. It is also famous for staking and yield farming. The future outlook for the cryptocurrency is bullish. Wallet Investor estimates the cryptocurrency will end the year at $0.18 and operate at $0.61 in five years’ time. Digital Coin Price’sprojections show Zilliqa to have a price level of $0.12 by the end of 2021. Hence, the cryptocurrency is expected to soon cross the ten cent mark.