Cryptocurrencies Price Prediction: Zilliqa, Bitcoin & Ethereum – European Wrap 20 April

Zilliqa price pauses its rally as ZIL bulls take a breather

Zilliqa (ZIL) price sees bulls taking a step back as they show some fatigue in their rally that has been ongoing since March. Although a 15% slide looks threatening and scary, the rally is still in good health and shows no signs of ending anytime soon. With the Relative Strength Index (RSI) nosediving, the next bullish spike could be the one that takes out $0.037 and lifts profit by over 20%.

Zilliqa price is undergoing quite a fade after price action peaked near $0.036 and did not make it up toward $0.037 for a retest of the high of February. Instead, a big fade got underway that is currently trading over 13% to the downside. With that sell-off, the RSI is taking a plunge as well and is already below 50, heading toward  oversold territory. 

Is the alt season in jeopardy as Bitcoin slides below $30,000?

With Bitcoin price sliding below a key psychological level, market participants have started to rethink their bullish views. A close look at the dominance chart reveals that things have stayed the same for altcoins.

Simply put, alt season is when the profits from Bitcoin, Ethereum and/or new capital, flow into altcoins. As a result of this redirection, the dominance of Bitcoin, aka its market share, suffers a decline. Likewise, the altcoin market share increases, giving rise to a phase known as alt season. 

Ethereum price could establish a massive move as the Shanghai upgrade augurs well for ETH

Ethereum price (ETH) remains bullish a week after successfully completing the Shanghai/ Capella (Shapella) upgrade, rising significantly since April 12. The event, which enabled ETH token withdrawals for holders, is boding well for the second-largest crypto by market capitalization as the Proof of Stake (PoS) token continues to record a surge in demand.

Currently, the Ethereum blockchain holds approximately 18 million ETH in staking contracts, amounting to around $36 billion. Ethereum price continues to trade within a ranging market eight days after the Shapella upgrade, with a potential move that could manifest from this zone in the coming days.