Zilliqa Price Prediction 2021 – Will ZIL Hit $0.2 Soon?
- Bullish ZIL price prediction ranges from $0.113 to $0.155.
- ZIL price might also reach $0.2 soon.
- ZIL bearish market price prediction for 2021 is $0.048.
In Zilliqa (ZIL) price prediction 2021, we use statistics, price patterns, ADX, and much other information about ZIL to analyze the future movement of the cryptocurrency.
Zilliqa is a public, permissionless blockchain which is created to provide high throughput with the facility to finish thousands of transactions per second. Moreover, it seeks to solve the issue of blockchain speed and scalability by offering sharding as a second-layer scaling solution. More so, it is home to many decentralized apps, and as of October 2020, it will enable staking and yield farming.
Zilliqa (ZIL) Current Market Status
According to CoinGecko, the Zilliqa price is trading at $0.084 with a 24-hour trading volume of $63,303,717, at the time of writing. However, ZIL has increased by 4% in the last 24 hours.
Moreover, ZIL has a circulating supply of 12,531,956,331 ZIL and maximum supply of 21,000,000,000. Currently, ZIL trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, FTX, and Upbit.
Zilliqa (ZIL) Price Prediction 2021
Zilliqa (ZIL) holds the 94th position on CoinGecko right now. ZIL price prediction 2021 explained below with a daily time frame.
The falling wedge pattern is a continuation pattern formed when the price bounces between two converging and descending trendlines. This is a bullish chart formation, but it can also indicate reversal or continuation patterns depending on where it appears in the trend.
Currently, ZIL is waving in a range of $0.08. If the price of the ZIL moves upward, it will reach the resistance level of $0.137. If the trend reverses to the down side, then it will reach the support level at $0.067.
Zilliqa (ZIL) Support and Resistance Level
The below chart shows the support and resistance level of ZIL.
From the above daily time frame, it is clear the following are the resistance and support level of ZIL.
- Resistance Level 1 – $0.117
- Resistance Level 2 – $0.155
- Resistance Level 3 – $0.201
- Support Level 1 – $0.077
- Support Level 2 – $0.048
The charts show that ZIL has performed a bullish trend over the past month. If this trend continues, ZIL might run along with the bulls overtaking its resistance level at $0.201.
Conversely, if the investors turn against the crypto, the price of ZIL might plummet to almost $0.04, a bearish signal.
Zilliqa (ZIL) Average Directional Index (ADX)
Now let’s look at the average directional index (ADX) of ZIL. Generally, the Average Direction Index (ADX) helps crypto traders identify the strength of a trend, instead of its actual direction. It can be used to check whether the market is changing or a new trend is initiating. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line.
The range of the oscillator is from 0 to 100. A high value represents a strong trend, and a low value shows a weak trend. It is often combined with directional indicators.
The above chart shows the ADX of ZIL stays above the range of 16.43, so it indicates a weak trend.
Conclusion
With the further developments and upgrades that are happening within the ZIL platform. The cryptocurrency ZIL has a great future in upcoming days in this crypto market. However, it is possible to see ZIL reaching new heights.
Bullish ZIL price prediction 2021 is $0.155. As said above, it may reach even high heights, however reaching $0.2 if investors have planned that ZIL is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
