Price Analysis

Zilliqa Price Rallies, Yet Assumed to Be Highly Undervalued!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jun 3, 2021

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Article Highlights
  • Zilliqa price often showcases a strong tendency to rally towards north, minimizing extreme pullbacks

  • The ecosystem is inbuilt with many utilities which is not witnessed among the top assets, yet is believed to be undervalued

Zilliqa price is among the cryptocurrencies which exhibits immense tendency to swell to the next levels, yet remains unrecognized by many. And moreover, if recognized, it fails to become the talk of the town as the big and high cap assets.

ZIL price in recent times surged above the expected levels by marking the highs above $0.2 in May. However, like many other assets, the ZIL rally flipped into bearish trap and slumped back to $0.06. Nevertheless, the price regained like a giant and recovered losses to some extent.

Unlike the other major crypto assets, the Zilliqa ecosystem inculcates many utilities which remain under progress in other platforms. Having many inbuilt features, yet the assets remained undervalued and not within the top 20 crypto assets. 

However, with the current uptrend, the Zilliqa has moved 5 places up, yet a monster rally is required to enter the top 20 crypto assets.

Also Read: Ethereum Price Smashes The Barriers, $5000 May Be On Cards This June!

Zilliqa (ZIL) Price Analysis

The ZIL price with a series of pumps and dumps successfully forms a ‘W-shaped’ pattern and is on the verge to test the neckline. However, the daily chart suggests the price is attempting hard to test the $0.1355 zone. A successful breakout may result in a long leg up towards the yearly highs above $0.24.

zil chart

The indicators are also pretty bullish, indicating an uptrend incoming soon. RSI indicator after a steep downtrend and visiting the oversold levels, is now flipped into a bullish trend. At the time of writing, the ZIL price is $0.141 with a jump of 11.01% in the past 24 hours.

Technical Indicators

  • The resistance levels for Zilliqa price are at $0.1845
  • The support levels are at $0.1223
  • The indicators are currently neutral, on the verge of pointing towards a buy signal.

Also Read: KAVA Price Records Double-Digit Gains, $10 Appears Imminent!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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