It seems like just yesterday when Zilliqa (ZIL) was making headlines after posting 500% gains in less than two weeks. Although the coin has sharply retreated from its 2022 highs, it’s still not badly off, given where it was at the start of the year. But investors could still get more returns in the near term.

• Zilliqa has established a channel breakout that could trigger a rally towards $0.1

• This would double ZIL’s current price if it were to happen.

• The coin will however need to smash past its 20 Day EMA to trigger this run.

Data Source: TradingView 

Zilliqa Price analysis: The road to $0.1

After bottoming at $0.045 in May, there is some reprieve for ZIL investors. Although the coin has not decisively rallied, it has managed to snap out of its May downtrend. Crucially, ZIL has also managed to rise above $0.05, suggesting that there could be a short-term relief rally in the coming days. 

However, the biggest challenge for ZIL bulls would be to find enough momentum to push the coin above its 20-day EMA of $0.58. At the moment, the coin is slightly below this mark and will need a gain of around 6% from the current price to smash the 20-day EMA. 

If this happens, ZIL will likely break out in a surging rally that could push the coin well towards $0.1. This will represent gains of around 100% from the current price.

Will ZIL reclaim its 2022 highs

In early March, ZIL managed to hit its all-time high after surging to $0.228. But ever since, the coin has struggled to find any additional momentum for more growth. 

As a result, ZIL has sharply fallen. It’s unlikely the coin will return to this ATH anytime soon. Instead, it will go through a period of consolidation at slightly above $0.1 in the medium term.

Be[in]Crypto takes a look at the price movement for seven different cryptocurrencies, including Zilliqa (ZIL), which increased considerably on May 4.

BTC

Bitcoin (BTC) had been decreasing inside a descending wedge since April 18. The wedge is considered a bullish pattern, meaning that a breakout from it would be likely. 

On May 5, BTC managed to break out. 

If the upward movement continues, the closest resistance area would be at $42,800. This is the 0.5 Fib retracement resistance level and a horizontal resistance area.

ETH

Ethereum (ETH) has been decreasing inside a descending parallel channel since April 10. The movement led to a low of $2,716 on April 30, before the price bounced (green icon). The bounce served to validate the $2,750 support area and the support line of the channel.

If ETH follows the lead set by BTC, it will break out from the channel in the near future. If so, the next closest resistance would be at $3,150.

XRP

XRP has been falling since reaching a high of $0.93 on March 28. The downward movement led to a low of $0.56 on April 30. 

Afterward, the price bounced, validating the $0.57 horizontal area as support (green icon). 

If the upward movement continues, the next closest resistance area would be at $0.70.

SHIB

Shiba Inu (SHIB) has been decreasing underneath a descending resistance line since Feb 8. This led to a low of $0.000018 on April 30. 

The ensuing bounce created a long lower wick and created a double bottom pattern relative to the price in Jan (green icons). The double bottom is considered a bullish pattern and often leads to trend reversals. 

A breakout from the resistance line would confirm the validity of the pattern. If so, the next resistance would be at $0.0000275.

ADA

Cardano (ADA) had been decreasing alongside a descending resistance line since reaching an all-time high price of $3.02 on Sept. 2.

On March 22, the price broke out and proceeded to reach a high of $1.245 on April 4. However, the upward movement could not be sustained and the price decreased until it reached a low of $0.73 on April 30. 

The downward movement caused a sweep of the Feb lows before the price bounced considerably.

Due to the bounce, the $0.78 area is now expected to provide support once more.

MATIC

Polygon (MATIC) has been trading inside a long-term ascending parallel channel since May 2021. It has been decreasing since reaching an all-time high price of $2.92 on Dec 27. 

Initially, the price bounced at the $1.37 area, but failed to initiate any sort of upward movement, and broke down on April 24. This led to a low of $1.01 on April 30. The low was made very close to the support line of the long-term channel and led to a significant bounce.

If the upward movement continues, the previous support area at $1.37 would be expected to provide resistance.

ZIL

Zilliqa (ZIL) had been decreasing underneath a descending resistance line since April 11. The downward movement led to a low of $0.066 on May 3. 

However, the price initiated a significant upward movement the next day and managed to break out. So far, it has reached a high of $0.098.

The high was made inside the $0.096 resistance area and created a long upper wick (red icon). This is the final resistance area prior to the April highs.

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here

After hitting an all-time high at the start of April, Zilliqa (ZIL) has fallen sharply as investors continue to lock in profit from its meteoric rise. The coin is however still exposed to further downside. More on this later in the post but first, here are the key takeaways.

• ZIL has slipped below its crucial demand range between $0.097 and $0.121.

• The coin is now firmly on a bearish trend with very little upward momentum.

• Failure to regain the demand range mentioned above will lead to a 45% decline.

Data Source: Tradingview 

Zilliqa (ZIL) – The downside risk to note

March was the best month for Zilliqa. The coin managed to surge by over 500%, outperforming all other major coins in the market by a huge margin. ZIL in fact hit its all-time high on April 1. It was trading at around $0.230 at the time. 

But after such a meteoric rise, an epic correction was inevitable. As investors started to take their profits, the coin fell sharply. At the moment, ZIL has lost nearly 150% of its ATH. Crucially, the coin has slipped below an important demand zone ranging from $0.097 and $0.121.

This is a sign of major weakness and in fact, ZIL is now bearish. If the coin fails to regain this demand zone, the price action will weaken further. In fact, ZIL could nose dive by another 50% before it finds any demand.

Is Zilliqa’s bull run over?

Yes, at the moment, the bull run that ZIL reported in March and the start of April is now gone. We do not expect the coin to retest its ATH anytime soon. 

Instead, ZIL will remain bearish for the next few weeks. The coin could bottom at $0.05, roughly closer to where it was before the March bull run. The correction we all expected will now be complete.

Zilliqa (ZIL) was a huge performer in the last three weeks. The coin saw record-breaking gains even as other coins slowed. But a correction that followed that mesmerizing surge put some breaks on ZIL’s rise. However, the coin still has a lot of potentials:

• Increased buying pressure could push ZIL up in the days ahead.

• The coin is now within a crucial demand zone of between $0.097 and $0.121.

• ZIL has a potential upswing of around 30%

Data Source: Tradingview 

How Zilliqa can regain its momentum

ZIL has been slowing quite rapidly over the last week or so. In fact, after peaking during the last week of March, the token has lost nearly 56% of its value. But after a period of consolidation, the coin has now started to rise again. 

ZIL currently sits in between a very crucial demand zone that ranges from $0.097 to $0.121. In the past, this zone has provided a lot of buying pressure and so far, we are starting to see some uptick in bullish activity. ZIL has surged by at least 7% over the last 24 hours. We expect bulls to continue buying within this zone. 

As a result, ZIL will explode, bringing gains of at least 30% in the process. However, it is unlikely that ZIL will reclaim its all-time high of $0.237. While this is possible this year, in the near term, we expect the coin to face major resistance zones before it even gets close to $0.2.

What are ZIL’s long-term prospects?

After an exponential rally last month that saw gains of around 540%, it is clear that ZIL has run out of steam. In the near and medium-term, we expect the coin to struggle for demand. But in the long term, ZIL still has immense potential, and 2022 could still prove a very successful year for the token.

Zilliqa (ZIL) is hands down the crypto of the year so far. The coin has recently surged to unimaginable heights. Despite analysts predicting pullbacks, ZIL has continued to show incredible upward resilience. There seems to be more upside for growth too. Here is what you need to know:

• ZIL has gained over 200% in the last 7 days alone.

• The coin has however slowed with a 10% pullback in the last 24 hours.

• It is likely that the uptrend will continue despite slowing in recent days.

Data Source: Tradingview 

Zilliqa (ZIL) – Is $0.5 eve possible?

Surging towards $0.5 will be massive for ZIL. This would mean the coin will have to add another 100% or thereabout from its price today. While it may seem unlikely, for a coin that has surged by 200% in seven days, everything is indeed possible with ZIL. 

Besides, chart indicators show a bullish trend. The fact that ZIL has defied all bearish predictions in recent days makes it a bullish asset. In essence, even people who are not upbeat about it may be forced to buy to ensure they don’t miss out on these gains. 

Because of this, it is likely that more gains will come. The challenge though for bulls right now is the possibility of a majority of folks starting to lock in profit. If this happens, we may see slowed upward momentum followed by a decisive pullback of at least 35%.

How to play the Zilliqa (ZIL) setup?

There are two ways to play out the current ZIL setup. First, it makes sense to buy in and ride a possible surge towards $0.5. But this will depend on how the coin performs in the day ahead. 

In the last 24 hours, ZIL has lost 10%. If such double-digit losses are posted in two consecutive days, then the trade becomes very risky. Secondly, you could wait for the pullback to come and buy then.

• Zilliqa’s price has risen by almost 400% in the month of March
• The price increment is hinged on the anticipated launch of its Metapolis Metaverse
• Metapolis will be launched on the 2nd of April during a VIP event in Miami, Florida
• ZIL could undergo a pull-back after the launch of Metapolis

The popular Ethereum competitor of Zilliqa has had an eventful month of March in terms of project developments, and price movement of its native digital asset of ZIL.

Zilliqa Gains by 400% in the month of March

To begin with, the digital asset of Zilliqa has had a meteoritic rise this month gaining value by almost 400%.

At the beginning of the month, Zilliqa was valued at roughly $0.043. Earlier today, Zilliqa hit a local peak value of $0.2095. This translates to a 387% price increment in the stated time period.

Rise of ZIL Fueled by the Metapolis Metaverse

Secondly, Zilliqa is diving deep into the Metaverse with the launch of Metapolis.

The latter is a Metaverse-as-a-service (MaaS) platform that will be launched on April 2nd during a VIP event in Miami, Florida.

According to the team at Zilliqa, Metapolis will be ‘ built on unreal engine, unity and Nvidia Omniverse’. In this endeavor of Metapolis, Zilliqa has partnered with Agora, a global talent awards app that allows its users to ‘upload their creations and participate in contests to win support, visibility and recognition in the international community’.

Furthermore, Metapolis has already gathered interest from major creator-focused and eSports brands. The project has also gathered over $2 million in pre-launch revenues.

What the ZIL/USDT Chart Says

To note is that the Metapolis launch event is roughly 48 hours away. Therefore, consulting the daily ZIL/USDT chart is recommended to gauge if ZIL’s bullish momentum will be maintained before, during, and after the event on April 2nd.

From the daily ZIL/USDT chart, it can be observed that the price of Zilliqa has taken a parabolic trajectory. Furthermore, its price has very much deviated above the 50-day (white), 100-day (yellow) and 200-day (green) moving averages, pointing towards a possible pullback in the next few days.

Additionally, ZIL’s daily MFI, MACD and RSI are in overbought territory further providing hints of a possible retracement.

Consequently, caution is advised when going long on Zilliqa (ZIL) on the various leverage trading platforms. A wait-and-see approach, till after the Metapolis launch, could also be an option for anyone who did not catch the ride up.

[Feature image courtesy of Zilliqa on Twitter]

Zilliqa (ZIL) has shot up massively in the last few days. The coin gained nearly 100% in one single day, and while most investors were expecting an immediate pullback, bulls just kept the coin going and going. It seems there are no sellers for ZIL, and it is likely this will remain the case for a while. Here are some pointers:

• The recent two-week rally by ZIL has been astonishing, to say the least.

• At one point, the coin was up 225% in just seven days before retreating slightly.

• We do not see any sell-off pressure, and ZIL could add another 100% in the near term.

Data Source: Tradingview 

Zilliqa (ZIL) – Bulls are fully in charge

In most cases, when coins rally to the extent that ZIL has, it’s natural to expect that there will be a pullback. But don’t bet on ZIL to do this in fact, bulls are in full control right now. We expect the gains to extend further to around $0.15 before there is any loss of momentum. 

ZIL is currently trading at around $0.09. Although it has lost about 5% for the last 24 hours as some holders cash in, we expect the bullish momentum to resume. The $0.11 mark will be the most difficult for bulls to break through. 

While we expect the current ZIL momentum to rise above that, if bulls are not able to break the resistance, ZIL will fall. But this will not be a huge pullback. In fact, it will be a modest pullback to $0.08 which will still put ZIL at an all-time high in 2022.

How to play the Zilliqa (ZIL) uptrend

Well, the best play here will be to buy. As for the short-term traders, close when the price hits $0.15. For long-term investors, the risk of a major sell-off after $0.15 will increase. It would be best to see if the coin hits that mark and then track the pullback before you buy.