Zilliqa has grown massively in recent weeks. ZIL Price surged around 500% since the beginning of November and hasn’t shown many bearish signs just yet.
However, some technicals are suggesting that the digital asset might be poised for a significant correction in the short-term. The digital asset has been trading inside a robust uptrend hitting new highs almost every day.
ZIL Price Analysis
At press time, Zilliqa is trading at $0.085802 with a 24-hour trading volume of $458,160,150 USD. ZIL price is up 0.84% in the last 24 hours. The current CoinMarketCap ranking is #33, with a market cap of $925,991,498 USD.
As per the chart and the weekly chart, it seems that the TD Sequential indicator is on the verge of showing a sell signal on the daily. The indicator has presented a green ‘8’ candle on both charts which are usually followed by a green ‘9’ sell signal. If both are confirmed, they can push the ZIL price down to $0.06, the 12-EMA on the daily chart.
According to analysts, Zilliqa’s price has doubled in less than thirty days, and the near-term target is set to surpass $1 in the first half of 2021.
Zilliqa Is All Set to Hit New ATH
The most followed crypto strategist with Twitter handle @CryptoMichNL is keeping a close watch on Zilliqa. Looking at ZIL, the trader says he’s waiting for a pullback before it skyrockets above $0.23 and records a new all-time high (ATH).
“Zilliqa reached the second target zone for this impulse wave. A run of 300%+ and a very bullish outlook for this one for 2021. Points of interest: $0.035 and $0.048. The next impulse wave will most likely bring a new ATH for this one.”
Google Search Volume for Zilliqa Surges
Zilliqa’s google search volume has seen a huge spike in December reaching levels that was last seen in June of this year when it hit $0.030 after staking went live on the mainnet.