Zilliqa Price Prediction: ZIL prepares for a 70% bull rally to $0.12

Zilliqa price hints at a 70% surge as it breaks out of a bull flag pattern.
Invalidation of the conflicting sell signal presented by the TD Sequential indicator is key to ZIL’s rally.
Breaking through the $0.08 resistance will help confirm the bullish outlook, leading to a run-up to $0.12.

Zilliqa price recently broke out of the bull flag, indicating that it is ready for higher highs. A decisive close above a critical resistance level can quickly push ZIL's market value by 70%, but a failure will drag it down into stagnation.

Zilliqa price at crossroads as bulls fight bears for control

Zilliqa price cut through the 50 twelve-hour SMA after bouncing from the 100 twelve-hour SMA, showing intense buying pressure in the market. The uptick caused a breakout from a bull flag pattern on a 12-hour chart, triggering an opportunity for a 70% rise in ZIL's market value.

Now, Zilliqa price needs to stay above the recent highs formed at $0.08 to take advantage of the bullish opportunity.

ZIL/USDT 12-hour chart

A successful close above the $0.08 resistance barrier will trigger a buy-signal by the SuperTrend indicator within the same time frame. Slicing through this crucial price hurdle will also invalidate the TD Sequential indicator’s sell signal presented in the form of a green nine candlestick.

Therefore, investors must pay close attention to the $0.08 resistance since it will determine whether or not Zilliqa price will skyrocket by 70% to meet the bull flag’s target at $0.12.

ZIL/USDT 12-hour chart

It is worth mentioning that a rejection from the $0.08 resistance level would help confirm the sell signal presented by the TD setup and result in a one to four 12-hour candlestick retracement. On its way down, ZIL may find support around the 50 or 100 twelve-hour SMA.

Share: Cryptos feed

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.