Price Analysis

Zilliqa(ZIL) & VeChain(VET) Price Gained Double-Digit Gains, Here’s What Next!

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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Mar 28, 2022

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Highlights

    ZiL & VET prices gained huge bullish momentum and surged extremely high showing the possibilities of pulling a massive leg up of another 20% to 30%

    After a gigantic rally, both the asset are feared to undergo a notable pullback that could be a short-lived one that may be flipped quickly

Zilliqa(ZIL) Price Analysis

The ZIL price is just broke out from a huge falling wedge pattern in the higher time frame. And moreover, the breakout led to a surge of more than 150% in the past couple of days. And hence the breakout which slashed a zero in its price is expected to soar high to test the next targets. Therefore, the next leg up may uplift the price close to $0.15 levels very quickly.  

After a huge breakout from the descending trend, the VET price ranged extremely high due to a huge influx of liquidity. However, the buying volume appears to have dropped significantly since the early trading hours, as the sellers are performing their job well. Hence a minor pullback may be expected in the next couple of days. Further, if the asset is done with exhaustion, it could quickly jump into action wasting no time. 

VeChain(VET) Price Analysis

VET price lost below $0.1 levels before the end of 2021 and since then the price is struggling hard to regain the levels. However, it seems that the asset may have undergone a parabolic recovery to smash levels above $0.08 after bottoming hard below $0.04. The asset consolidated for more than a month at around $0.05 until the asset received the weekend boosts gaining more than 40%. Yet the upswing does not appear to have halted but just paused for some time. 

The price formed consecutive bullish flag patterns and gained more than 15% to 20% surge with a breakout. And hence a similar bullish action is expected with the current breakout that may uplift the price towards the demand area. No doubt the bears are currently appearing pretty stronger with mounting selling pressure. But the asset appears to be poised to maintain within the pattern and undergo a breakout to surge towards the north soon. 

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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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