Traders must remember the hype around the probable altseason, which culminated in the middle of February, from which point the countdown to the market capitulation had begun. Since that time, many altcoins have been staying below the previous yearly highs, thus being trapped by the bear. But those ones don't include Zilliqa (ZIL), a coin that was built around the concept of sharding. Being currently priced at $0.1, ZIL has already crossed the mark above the yearly high of $0.0089, so perhaps the altseason didn't end for this currency in February, it has just taken a long timeout.
The bulls have been behaving aggressively in the ZIL/USDT market, pushing the price to the upside relentlessly. Thanks to their efforts in the past month, ZIL received an impressive price appreciation of 143% against USD and 84% against Bitcoin. Before that, the coin was mostly apathetic, doing more consolidation and ranging.
1-day ZIL/USDT
The two enormous leaps, which Zilliqa made since April 21, should have attracted traders' attention. Congratulations to those who went long on ZIL at $0.048, when the price had broken the first resistance, or when it got stuck for a while at $0.065, ultimately resolving the bullish checkmate pattern with the second upside swing that provided for the 64% gains. In the latest phase, Zilliqa has made a normal retracement that falls within the context of the bullish flag pattern.
At this point, some might think that it would be a good idea to go long on ZIL because it behaves healthily overall, the price retested the previous support at $0.0085, which it had broken with the three white soldiers candlestick formation.
And now, there emerges the pattern that starts to show similarities with the one called morning star: Besides that price action stays high above the 99-period EMA, thus confirming the overall bullish sentiments in this market. It seems that there is hardly anything that could stop ZIL from going past the outstanding resistance at $0.01, after which the price would encounter little to no counteraction on its way to the next big barrier that should emerge at $0.015, a support line that stood from March until July 2019. However, there are several factors that speak against the inevitability of the bullish scenario:
The bottom line is that Zilliqa offers mixed signals; therefore, it would be practical to exercise caution in this market and wait for ZIL to either resolve the frag to the upside or descend below $0.085, and to the 50 EMA. In which case, one needs to have a stop-loss placed accordingly but consider a long position as the profit/loss ratio of the next move is 1:3.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 86% | 26 | $64 341.19 | -0.32% | 2.46% | $1 266 894 245 203 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 76.4% | 46 | $3 145.13 | -0.35% | 3.27% | $383 857 826 217 | ||
3 | USDT | Tether predictions | 92% | 1 | $0.999982 | 0.02% | -0.07% | $110 461 541 407 | ||
4 | BNB | Binance Coin predictions | 86% | 21 | $614.27 | 1.20% | 12.35% | $90 658 550 982 | ||
5 | SOL | Solana predictions | 67.6% | 71 | $143.02 | -3.90% | 3.16% | $63 952 066 468 | ||
6 | USDC | USD Coin predictions | 93.6% | 2 | $1.000193 | 0% | 0% | $33 359 258 981 | ||
7 | XRP | XRP predictions | 66.4% | 69 | $0.522685 | -1.27% | 5.07% | $28 815 184 852 | ||
8 | DOGE | Dogecoin predictions | 68.8% | 65 | $0.149726 | -1.76% | 0.07% | $21 565 956 248 | ||
9 | TON | Toncoin predictions | 68% | 65 | $5.36 | -4.13% | -17.94% | $18 627 921 789 | ||
10 | ADA | Cardano predictions | 60.8% | 77 | $0.467984 | -2.19% | 2.88% | $16 676 093 947 | ||
11 | SHIB | SHIBA INU predictions | 63.6% | 82 | $0.000025 | -1.79% | 13.35% | $14 985 431 644 | ||
12 | AVAX | Avalanche predictions | 66% | 75 | $35.29 | -3.55% | 2.32% | $13 347 284 942 | ||
13 | TRX | TRON predictions | 86.8% | 21 | $0.117182 | 2.93% | 7.49% | $10 261 545 140 | ||
14 | STETH | Lido stETH predictions | 92.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
15 | WTRX | Wrapped TRON predictions | 84.8% | 18 | $0.117108 | 3.22% | 7.24% | $10 255 022 130 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.