• Zilliqa price has seen a significant breakout from a descending triangle pattern on the daily chart.
  • ZIL bulls aim for a 40% move towards $0.10 in the longer-term.
  • On-chain metrics suggest that Zilliqa can climb higher without any barriers ahead.

Zilliqa had a massive run towards $0.0998 by the end of 2020 and has been under consolidation for the entirety of 2021. ZIL is currently trading at $0.089 after a significant breakout from a crucial pattern.

Zilliqa price aims for $0.10 with no opposition ahead

On the daily chart, the breakout above the descending triangle pattern formed has a price target of $0.10 which is calculated by subtracting the difference between the top and the bottom, $0.03, in this case, and adding it to the breakout price of $0.07, which gives us a $0.10 target.

zil price

ZIL/USD daily chart

On the 1-hour chart, a symmetrical triangle has formed with the resistance trendline right around $0.08, the current price. A breakout above this point will lead Zilliqa price towards $0.09 in the short-term.

zil price

ZIL Social Volume

In the past week, we have seen two major spikes in social volume on January 30 and 31, and both predicted upcoming corrections. Although Zilliqa price is higher now, the social volume is far lower which indicates the digital asset can climb higher.

zil price

ZIL/USD 1-hour chart

However, it seems that ZIL price is getting rejected from the top trendline resistance and could quickly fall towards the lower trendline at $0.78. A breakdown below this level will drive Zilliqa price down to $0.068.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

MAGA trades slightly down to around $3.4 on Tuesday after rallying more than 20% since Sunday. The former President Donald Trump-based memecoin is poised for further gains as daily active addresses and network growth metrics rise, signaling increased network usage and adoption.

More Meme Coins News
Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs have reshaped the digital asset investment landscape since their approval in January. Their total assets under management climbed over $70 billion during the weekend, placing them ahead of other investment products, including gold.

More Bitcoin News
XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

Ripple's XRP is trading at $0.5050 up slightly by 0.2% in the past 24 hours as it struggles to sustain a move above a key symmetry triangle resistance. Meanwhile, in its recently released Q3 report, Ripple noted the rising listing and relisting of XRP across crypto exchanges and global platforms.

More Ripple News
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. Meanwhile, the State of Michigan pension fund revealed an investment of $11 million in ETH exchange-traded funds.

More Ethereum News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP