Zilliqa Price Prediction: ZIL aims for $0.26 as the odds flip in favor of the bulls


Zilliqa price established a downtrend in the past four days but is close to a recovery. The digital asset is trading at $0.204 at the time of writing, above a crucial support level and is aiming for a significant breakout toward all-time highs.

Zilliqa price must conquer this level to see all-time highs

On the 4-hour chart, Zilliqa has established an ascending broadening pattern which can be drawn connecting the higher highs and lower highs with two different trendlines. As the name suggests, this pattern gets broader as time goes by. 

zil price

ZIL/USD 4-hour chart

Ascending broadening wedges tend to break out in the direction of the previous price trend. However, a breakout is far away from the current price. Zilliqa bulls want to establish a higher low compared to $0.181 and a higher high above $0.208 to confirm an uptrend. 

Bulls have managed to defend the 50 SMA support level at $0.20 so far. A breakout above $0.208 should quickly push Zilliqa price towards $0.222 in the short term, and as high as $0.26 at the top of the pattern in the longer term. 

zil price

ZIL/USD 4-hour chart

However, a breakdown below the crucial support trendline of the wedge at $0.195 will lead Zilliqa price towards a maximum low of $0.148, calculated using the height from the breakdown point to the upper trendline.

Other bearish price targets in between include $0.178, a low formed on April 4, and $0.167, another low formed on March 31.

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Dogecoin Price Forecast: DOGE on the cusp of a massive 85% explosion

Dogecoin price had another surge in the last three days jumping toward $0.348. The digital asset still aims for new all-time highs and it’s only facing one critical resistance level at $0.32. 

More Dogecoin News

Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

More Bitcoin News

XRP Price Prediction: Ripple cracks key barrier for a massive upswing toward $2

XRP price has triggered a massive breakout without any news behind it after trading sideways for the last four days. The coin behind Ripple touched $1.597 and is aiming for a price target of $2 in the longer term.

More Ripple news

SafeMoon price plummets and remains trading sideways while interest fades away

SafeMoon had a huge success reaching more than 1 million holders and a multiple billion-dollar market capitalization. The digital asset has been so successful that hundreds of new projects have forked it and copied springing a huge wave of scams and frauds.

More SafeMoon News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP