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Zilliqa (ZIL): The Bulls Are Trying to Hold Their Ground


#Zilliqa

According to our last Zilliqa (ZIL) price prediction, the minable coin representing the blockchain platform built around the sharing concept was supposed to experience a price drop to the levels around $0.15, which it did in a matter of two weeks after the forecast publication.

However, the selling pressure had proven to be so high that at some point, ZIL had to move even lower to $0.013, where it found the support, although the price action persisted in revolving around $0.015 for the period from September 3 until September 28, which coincided with the overall bearish mood on the cryptocurrency market.

1-week ZIL/USDT chart

But the weekly chart above clearly shows how vehemently the bulls have been trying to restore the uptrend structure that had been compromised by the sudden selloff by forcing the price from $0.015 to $0.019 in one big push that allowed ZIL to put up the positive 5.24% performance for the first time in 90 days.

Another attempt at $0.025 or a fall to $0.01?


Even though Zilliqa has been roughed up a bit during the first month of the fall, the altcoin's showings on the macro scale (last 12 months) remain largely positive as it failed to earn triple figures only against Ethereum.

Zilliqa's all-time ROI is also 405% in the green, which should make investors and traders feel confident about this altcoin, especially since it is associated with such a promising element of blockchain technology as sharding, which even the Ethereum team can't seem to be able to crack, and is quite swingy in terms of price action. Our preliminary ZIL forecast has a bullish tone to it, especially if the cryptocurrency market won't get affected much by the unceasing pandemic and the controversy around the traditional markets and the Fed stimulus.

1-day ZIL/USDT chart

The price action on the daily time frame provides even more bullish signals. For instance, the Bollinger Bands are visually expanding after a brief squeeze, which always entails a period of increased volatility. In this case, the volatility is likely to be of the bullish nature. MACD is singing to the bullish tune as well, showing that the momentum is on the side of the buyers. We also see the surge of buying volume - all these factors combined lead us to the conclusion that Zilliqa will reach the resistance level at $0.023 over the coming week, upon which the retracement could kick in.

Author: Alex Paulson for Crypto-Rating.com

Related

Zilliqa (ZIL): More Evidence That Bullish Phase Is Over
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Zilliqa (ZIL) Going Down Along With the Entire Crypto Market
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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86.4% 18 $47 925.68 0.68% 6.58% $901 951 445 458 $27 919 462 130
2 Ethereum (ETH) ETH Ethereum predictions 76% 50 $3 423.11 0.38% 5.21% $402 491 721 391 $15 553 045 416
3 Cardano (ADA) ADA Cardano predictions 67.2% 67 $2.37 0.38% -7.94% $75 823 653 054 $2 080 207 302
4 Binance Coin (BNB) BNB Binance Coin predictions 68.8% 70 $410.57 0.26% 2.36% $69 032 640 296 $1 283 622 699
5 Tether (USDT) USDT Tether predictions 96% 1 $1.000627 0.04% 0.04% $68 335 359 250 $59 329 429 542
6 XRP (XRP) XRP XRP predictions 72.4% 59 $1.078025 0.61% 0.96% $50 259 931 930 $2 252 778 370
7 Solana (SOL) SOL Solana predictions 57.6% 90 $167.50 13.39% -4.91% $49 743 317 996 $5 600 026 562
8 Polkadot (DOT) DOT Polkadot predictions 59.2% 81 $34.32 2.31% 8.72% $33 890 426 406 $1 838 398 069
9 Dogecoin (DOGE) DOGE Dogecoin predictions 62.8% 75 $0.241065 -0.37% 0.25% $31 660 952 487 $981 852 553
10 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $1.000557 0.03% 0.03% $29 403 262 185 $2 112 261 871
11 Avalanche (AVAX) AVAX Avalanche predictions 64.8% 69 $69.31 -5.01% 25.67% $15 268 911 437 $1 827 693 735
12 UniSwap (UNI) UNI UniSwap predictions 71.6% 63 $24.33 -0.87% 8.50% $14 880 383 376 $283 300 955
13 Terra (LUNA) LUNA Terra predictions 68% 64 $35.04 0.38% -9.65% $14 075 024 420 $740 942 492
14 Chainlink (LINK) LINK Chainlink predictions 74.4% 52 $28.27 1.53% 5.94% $12 820 613 105 $1 032 467 819
15 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $1.000531 0.04% 0.04% $12 820 356 340 $4 823 361 344

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