Lorenzo Stroe
Independent Analyst
- Zilliqa price is bounded inside an ascending wedge pattern on the 4-hour chart.
- The digital asset aims for a significant breakout amid bullish market momentum.
- ZIL needs to climb above a key resistance level to see new all-time highs.
Zilliqa has been trading relatively sideways in the past two weeks, but it's close to a significant breakout if bulls can push the digital asset above a key resistance level.
Zilliqa price aims for greatness
On the 4-hour chart, Zilliqa has established an ascending wedge pattern with a resistance trendline located at $0.132 currently. A breakout above this key point will quickly drive Zilliqa price towards $0.17.
ZIL/USD 4-hour chart
This breakout is more likely to happen thanks to the bullish momentum the entire cryptocurrency market has experienced in the past two days. However, bears can still come back.
ZIL/USD 4-hour chart
If Zilliqa price gets rejected at the upper boundary of the ascending wedge, the digital asset will quickly fall towards the lower trendline located at $0.114.
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