- Zilliqa price can see a negative crossover of Moving Average on the daily chart in upcoming days. Meanwhile the price is seeing a gain of 15% in the intraday session
- Technical Indicators suggests a downtrend for ZIL. Meanwhile, it has given investors a return of more than 10X in four months.
Why To Invest In Zilliqa?
Zilliqa is a permissionless public blockchain that offers high performance with the ability to complete thousands of transactions per second . It seeks to solve the blockchain’s scalability and speed problem by using fragmentation as a solution to scaling the second tier. ZIL houses many decentralized applications and from October 2020 also enables the production and yield of piles.
It seeks to become the blockchain of choice for large-scale enterprise use. It includes the advertising, gaming, entertainment and financial services and payments industries. In its 2018 position paper, its team states that the platform “aims to rival traditional centralized payment methods such as VISA and MasterCard.”
Technical Indicators Hints A Consolidation For Zilliqa Price
ZIL price is seeing a bearish momentum on the weekly technical chart. In contrast the coin is seeing a downtrend on the daily chart. The bullish momentum for the coin on the upside can see a halt at $0.2. A bounceback on the downside for the coin can be expected from $0.02. It is currently trailing below 50 and 100 Daily Moving Average. The 100MA (Red) line is at $0.16 making it a temporary resistance for the price . The coin is currently seeing a consolidation on the daily chart. If the price jumps above $0.2 in upcoming days then strong bullish momentum can be seen. ZIL/BTC pair can also observe a strong uptrend in upcoming days.
RSI(Bearish): It is currently trailing at 37.7 , highlighting its presence in neutral zone. There is a negative slope formation in the RSI, showcasing a downtrend for the price. RSI depicts a bearish momentum for price.
Conclusion
ZIL price has given a return of 10X in the past and can continue the same in upcoming days. Zilliqa price is currently in a slump but can soon see a recovery. An Investor can do their due diligence before investing.
Technical Levels
Major Support:$0.02
Major Resistance:$0.2