Among the cryptocurrencies on the rise this year, Zilliqa may be the most surprising to some. For those who are unaware, Zilliqa has been in operation since 2017. It recently made waves after reaching nearly $0.1. This is not by chance, since ZIL is particularly friendly to the Decentralized Finance (DeFi) community.
In this article, we will first try to understand Zilliqa and what the future has in store for it. Our Zilliqa price prediction is completely based on technical analysis only. So, let’s dive into it.
What is Zilliqa (ZIL)?
Zilliqa is a piece of software that intends to incentivize a worldwide, distributed network of computers to operate a blockchain platform to increase user scalability through sharding.
As such, Zilliqa is one of several competing blockchains trying to build an ecosystem of decentralised applications (dapps) and cryptocurrencies, such as Ethereum, Tron, and EOS. To distinguish itself from competitors, Zilliqa employs a sharding mechanism that divides its infrastructure into numerous interconnected blockchains to enable more transactions.
Zilliqa also introduced Scilla, a native programming language that focuses on security and allows developers to create and deploy customisable dapps that mimic real-world applications. To enable all of these characteristics, the network’s native cryptocurrency, ZIL, is utilised to execute programmes, conduct transactions, and encourage network actors.
ZIL, Zilliqa’s cryptocurrency, is essential for network maintenance and operation and may be used for holding, transmitting, and staking. Users obtain the capacity to vote on network enhancements by holding and staking ZIL, with each vote proportionate to the amount of ZIL coin staked. ZIL, like many other cryptocurrencies, has a limited supply, which means that according to the software’s regulations, there will only ever be 21 billion ZIL.
That is enough information for Zilliqa and ZIL. Before we get into Zilliqa price prediction, let’s have a look at the present market condition.
Current Market Situation for Zilliqa (ZIL)
ZIL is now trading at $0.9 with a 24-hour trading volume of $63,192,466 as of the time of writing this Zilliqa price report. As a consequence, ZIL’s price has risen by 0.81 percent in the previous 24 hours.
Furthermore, the current circulating supply of ZIL is 11.29 billion ZIL. Binance, OKEx, FTX, Upbit, and Huobi Global are currently the main cryptocurrency exchanges for ZIL. Let’s move on to the next section of this ZIL technical analysis.
Zilliqa technical analysis
ZIL currently ranks at 81st on CoinMarketCap. An Ascending Channel pattern may be seen on the daily frame chart. This is a bullish pattern generated by connecting higher highs and lower lows. Based on this, Zilliqa was able to hold its ground against the bears in the first few days of the month.
In other words, ZIL is preparing for a probable bullish surge in the coming days. If this occurs, the cryptocurrency may break over its barrier level and hit a positive price. Of course, this is most likely if the positive market continues to favour Zilliqa.
If the bulls turn against the crypto, the price of ZIL may decrease. In summary, ZIL might break out of its uptrend and plunge to a negative price. This pattern depicts a period of consolidation that might lead to a price breakdown or breakout.
Furthermore, a break below the lower trend line indicates the beginning of a new negative trend. A breakout from the upper trend line indication, on the other hand, suggests the start of a new bullish trend. ZIL shifted from a bear to a bull trend at the beginning of this month. This is due to the significant transaction volume that occurred during that time period.
ZIL’s Relative Strength Index (RSI) is 54.7, indicating that the currency is in a neutral zone. It has not been oversold or overbought. Traders and investors can trade with confidence in this circumstance since there is no dramatic price reversal.
As a result, traders must trade crypto with caution and avoid being swayed by market euphoria. Keeping all of this in mind, traders can avoid incurring unexpected losses as a result of the crypto market’s violent fluctuations.
Zilliqa Price Prediction 2022
If the current upward trend continues, ZIL will be worth $1.5 by the end of 2022. Furthermore, the first half of 2022 will see strong growth of up to $2. The growth will thereafter moderate, but no significant drops are forecast. With forthcoming, partnerships, and advances, reaching $1.5 is fairly ambitious in terms of pricing, but it is undeniably doable in the near future.
Zilliqa Price Prediction 2023
If ZIL maintains the support level around the 200-MA or long-term moving average, purchasers will have enough time and stability to create the next attack mission on the critical level around $4, causing it not to drop but to play persistently.
Zilliqa Price Prediction 2025
ZIL prices might reach $6 in the next three years. However, hitting this level may not be as tough for ZIL as a new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ZIL has a strong chance of attaining a new ATH during the next five years.
Zilliqa Price Prediction 2030
According to Zilliqa price prediction and technical analysis, the ZIL price is predicted to cross an average price level of $8.13 in 2030, with the expected lowest price value of Zilliqa by the end of 2030 being $8.07. Furthermore, ZIL has a maximum price level of $8.57.
In 2021, ZIL has a promising future. With the current advancements inside the ZIL ecosystem and the overall crypto market, we may see ZIL reach new heights. The bullish Zilliqa price forecast for the beginning of 2022 is $0.25. As previously said, it may even hit $1 if investors conclude that ZIL, along with popular cryptocurrencies such as Bitcoin and Ethereum, is a suitable investment in 2022.