|

Two reasons why Zilliqa price is ready for a quick 30% upswing

  • Zilliqa price shows a resurgence in buying pressure as it rallies 14% in the last 12 hours.
  • This run-up comes after a dip into the $0.097 to $0.121 demand zone.
  • A daily candlestick close below $0.097 will invalidate the bullish thesis for ZIL.

Zilliqa price is back in bulls’ control as it restarts its rally. This move comes after ZIL crashed continuously since March 28. Investors can expect this rally to continue due to two technical signals.

Zilliqa price presents a buy signal on two fronts

Zilliqa price has crashed 56% since March 28, pushing its market value from an all-time high at $0.237 to $0.101. This downswing was mainly investors booking profit after a 540% exponential rally.

The backstop was provided by the daily demand zone, extending from $0.097 to $0.121 and the 200 four-hour Moving Average (MA) confluence. Additionally, Zilliqa price produced a lower low on April 12 and April 18, while the Relative Strength Index (RSI) produced a higher low, indicating a bullish divergence.

All of these factors played a crucial role in giving control back to bulls. As a result, ZIL has rallied 14% in the last 12 hours or so and is likely to go higher. Going forward, investors can expect a 30% upswing that pushes the altcoin to retest the $0.146 hurdle.

This is where a local top is likely to form, but overcoming this barrier could propel Zilliqa price to tag $0.161, bringing the total gain to 44%.

ZIL/USDT 4-hour chart

ZIL/USDT 4-hour chart

While things are looking up for Zilliqa price, a daily candlestick close below $0.097 will invalidate the bullish thesis by producing a lower low. Such a development could see ZIL crash 40% to $0.059, where sidelined buyers can step in and purchase the altcoin at a further discount.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin edges lower on Tuesday, extending consolidation in a trading range for over ten days. Market conditions remain defensive, with sustainable recovery depending on renewed spot demand, report says.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme coins, including Dogecoin, Shiba Inu, and Pepe, are under pressure on Tuesday, extending Sunday’s decline. The derivatives data show substantial outflows from DOGE, SHIB, and PEPE futures Open Interest, primarily driven by long-side-skewed liquidations. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.