Lorenzo Stroe
Independent Analyst
- Zilliqa price is contained inside a symmetrical triangle pattern on the 4-hour chart.
- The digital asset is on the verge of a massive 30% move.
- The current momentum favors the bulls, which aim for new highs at $0.18.
Zilliqa price hit a new all-time high at $0.1611 on February 13 and had a healthy correction down to $0.11 before a significant recovery. Now, the digital asset is ready for another leg up and a potential new all-time high.
Zilliqa price on the brink of a 30% jump towards $0.18
On the 4-hour chart, Zilliqa price has established a symmetrical triangle pattern that is almost ready to crack. A breakout above $0.133 will quickly push Zilliqa price up to $0.177, a 33% move, calculated using the pattern's height as a reference point.
ZIL/USD 4-hour chart
However, if the bears can crack the critical support level at $0.125, Zilliqa price can dive towards a low of $0.085, which coincides with the 200-SMA support level.
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