search icon
      blog search icon

      Zilliqa (ZIL) – What is the Chart Showing Us? - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      December 28, 2021

      5:22 PM UTC

      Zilliqa (ZIL) – What is the Chart Showing Us? - Stocks Telegraph

      At the time of writing, ZIL is being traded at the price of $0.07812. The price of the coin has decreased by almost 5.42% in the past 24 hours. The maximum and minimum of the day are around $0.08452 and $0.07383. The daily trading volume has on the other hand has also decreased by almost 17% in one day. ZIL is listed on coinmarketcap at 97th spot according to market capital and has a market dominance of 0.04%.

      ZIL before the crash had achieved its all-time high around the price of $0.256 in May 2021. During the crash, it created a bottom and dropped down to $0.050 in the month of July. Just like many other coins, the coin showed reversal but it wasn’t strong enough. ZIL ultimately dropped down even the monthly low of July and is showing weakness.

      ZIL has a total supply of around 21B tokens and has nearly half of them in the circulation around 12.1M. ZIL can be traded at a lot of different exchanges such as KuCoin, Binance, Hotbit, HitBTC.

      Technical Analysis – Zilliqa (ZIL)

      ZIL has shown weakness even when it was in the uptrend. We can see that prior to the drop in the price and the shift in the structure, the price was moving in the uptrend. But the creation of higher highs and higher lows was very slow.

      Ultimately the structure broke and the price started to create lower lows and lower highs. The price was moving in the downward channel. ZIL at this point started to show strength and the shift in the structure became obvious. This happened when the price started to consolidate and built a base at the bottom.

      ZIL - 1D

      Now there are two points of interest. One is the equilibrium of the consolidation and the other one is the last lower high. We can expect the price to touch the breaker, drop down to touch the middle point of consolidation, and then a long upwards.

      Price Prediction – Zilliqa

      Zilliqa (ZIL) has been one of the highly bullish coins in the market. According to wallet investor, ZIL in one year is expected to reach a value of $0.156. In five years, it is expected to touch $0.450. This shows that even though ZIL has a huge amount of potential in it and would give an amazing return but according to this estimate, it would take 5 years to reach the current ATH.

      More From Stocks telegraph