- Zilliqa price suffered a 7% decline overnight, and started a downward trend.
- Despite being listed by one of the largest and most liquid crypto exchanges Zilliqa is experiencing bearish sentiment among investors.
- Analysts believe Zilliqa is currently hit with an exit rally and could continue posting losses.
Zilliqa price is suffering a decline, posting 7% losses consistently. Zilliqa has been listed on a cryptocurrency exchange, however, the listing event failed to influence the altcoin’s price positively in the short-term.
Zilliqa price could decline on this condition
Zilliqa price is currently suffering a downtrend after its rejection from the 0.5 Fibonacci retracement level. The altcoin has broken below its 50-day Exponential Moving Average (EMA), a further bearish sign in Zilliqa chart.
Zilliqa price has witnessed a consistent decline in its price over the past two weeks. The altcoin was hit by the crypto market bloodbath and failed to recover losses.
The ZIL crypto is currently trading below its 50-day EMA. Bitpanda, a leading liquid exchange, recently listed Zilliqa, introducing the altcoin to more investors. Analysts believe Zilliqa price has a critical psychological level at $0.1, and the altcoin broke past it on April 26, 2022.
A break past the psychological level is key to the altcoin’s price recovery and trend reversal.
Analysts at The Market Periodical believe Zilliqa price could witness a spike in selling pressure and continue a downtrend. However, if Zilliqa price breaks past $0.1, the altcoin could confirm a bullish reversal and climb higher.
Philipp Weber, a crypto analyst and trader, believes Zilliqa price could continue consolidating and drop to $0.078. The analyst notes that if Zilliqa price gets rejected and spirals lower, it could continue its downtrend.
Can Özsüer, technical analyst and trader, is bullish on Zilliqa price and holds an opposing view. The analyst predicts a climb to $0.091.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
Bitcoin price primed to revisit $33,000 as global market turmoil rages on
Bitcoin (BTC) price is rallying in a full recovery story after a harsh and long crypto winter through most of 2022. With both yields and the US Dollar fading, the two biggest kryptonites for Bitcoin bulls are fading and losing their grip on the downtrend.
SEC v. Ripple: John Deaton says Hinman documents will be made public and support defense for Coinbase, Binance
XRP-friendly lawyer John Deaton believes Hinman emails are key to the legal battle between US financial regulator Securities and Exchange Commission (SEC) and payment giant Ripple.
Is this gaming token ready to plummet after a 56% rally in the last week?
With the Game Developers Conference between March 20 and 24, gaming tokens witnessed a massive boost in their prices. IMX token yielded 56% gains since March 13, alongside other blue-chip gaming tokens.
Here is what needs to happen for Ethereum price to rally 20%
Ethereum (ETH) price shows an exhaustion of bullish momentum after producing a clear sell signal on the four-hour timeframe. This development could result in a quick drop.
Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder
US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge.