NewsletterZilliqa Price Prediction: ZIL Price Zooms 10%; Is $0.16 Possible?
ZIL price trades higher with significant gains amid sustained buying pressure. The price extends the gains for the second straight session in a row after bottoming out near $0.10. A successful breakout above the upper resistance could yield further gains in the asset.
- ZIL price prints handsome gains on Thursday in a quite broader crypto market.
- Expect more gains if the price break above $0.14 on the daily basis.
- The downside is capped near the 50-day EMA at $0.91.
As of writing, ZIL/USD is exchanging hands at $0.12, up 11.12% so far.
ZIL price set up the bullish trading frame
On the daily chart, the ZIL price found strong support near the $0.10 level. The price moves along the ascending trend line, which is extending from the low of $0.04 made on March 26.
The price rallied more than 400% to the all-time high of $0.23 made on April 1. Since then the price retraced nearly 56% to the swing lows of $0.10. The bullish slop line acts as a support for the bulls.
Currently, a big green candlestick indicates the strong bullish momentum that pushed the price higher. Now, a daily close above the session high would bring more gains at the highs of April 4 at $0.16.
On the flip side, a spike in sell order would invalidate the bullish outlook on the asset. Further, a break below the ascending trend line would amplify the selling toward the 50-day EMA at $0.90, followed by $0.75.
Technical indicators:
RSI: The daily relative strength index attempts to break above the average line. Currently, it reads at 55.
PVT: The price-volume trend indicates bulls are still on the front foot.
- Expert Raoul Pal Reveals Crypto Market Outlook as Government Shutdown Ends
- Bitcoin Price Falls Below $100k Despite U.S. Government Reopening
- 21Shares Launches Crypto Market Index ETFs, Tracking Bitcoin, Ethereum, Solana, Dogecoin
- Michael Saylor Predicts Bitcoin Will Overtake Gold’s Market Cap by 2035
- Breaking: Canary’s Spot XRP ETF (XRPC) Goes Live on Nasdaq
- Is Shiba Inu Price Set for Recovery Amid Partnership with Unity Nodes to Expand SHIB Utility?
- Top 3 Reasons Pi Network Price May Surge Despite the Incoming Token Unlock
- Solana Price Gears Up to $180 as DApp Revenue and DEX Volume Surge
- Cardano Price Rare Pattern Points to a 55% Crash as Key DeFi Metric Plunges
- Is Dogecoin Price Set for a Rally After 4.72 B $DOGE Whale Accumulation?
- XRP Price Shows Early Signs of Recovery Ahead of the First U.S. XRP ETF Debut—Rally Ahead?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
