Zilliqa is ready for an up move; Will ZIL break $0.03?

Zilliqa helps in the linear growth of blockchain with sharding technology, making it one of the leading cryptocurrencies in the world with the native token ZIL. At the time of writing this post, Zilliqa is trading around $0.022, forming candles above the baseline of Bollinger Band that suggest bullishness for the short term.

ZIL has also formed higher highs and higher lows in the last few weeks, and it will continue until the level of $0.03, which is the previous support for the short term.

The buying pressure will continue until it faces resistance around $0.03. On the daily chart, MACD is bullish with green histograms; RSI is above 40, and BB lacks volatility, suggesting an up move with less volatility. On the downside, $0.02 will work as a support, at least for the short term, and we do not think ZIL will break this level soon.

It is interesting to note that $0.023 is working as a short-term resistance, and candlesticks are forming in these ranges, so you should wait until it breaks $0.025 or invest at the current price with a stop loss of $0.02. Overall, Zilliqa is also getting a good volume, indicating the participation of crypto investors. You must add it to your watchlist for short-term gain.

On the weekly chart, the Zilliqa price has been in a consolidation phase, but $0.015 is strong support for the long term, and it will not break the support this time. Overall, candlesticks form in the lower Bollinger Band with negative MACD and RSI, which suggests further consolidation. Still, it is a good time to accumulate the coin long-term because it might not follow the downtrend anymore. It will either consolidate or take an uptrend to test the $0.03.

Indeed, the market will be volatile in the next few months. Still, we do not think it will affect the ZIL price too much because it shows a positive sentiment for the short term, and the price will regain the previous support of $0.025, which will be an ideal time to invest for the long term as per our ZIL price prediction. 

You have to book the profit at the correct time, and it is not an ideal coin to invest in as a digital asset. It is not that kind of cryptocurrency where you can put the money and forget it for the next ten years. If you invest in Zilliqa, follow the price chart very closely and book the profit when the price hits your target.