Price Prediction: Is it Time to Rethink Zilliqa's (ZIL) Price Pattern After it Fell 4.5% Today?

Price Prediction: Is it Time to Rethink Zilliqa’s (ZIL) Price Pattern After it Fell 4.5% Today?

Updated: 25 January 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Zilliqa calls to mind a multilane highway without honking or traffic jams, but on the blockchain. Here, we will look at why Zilliqa’s price prediction is worth inspecting. The unique selling point of Zilliqa is its scalability and differentiation from other altcoins.

We will examine Zilliqa’s native currency, ZIL‌. Is ZIL a good investment? How will this coin fare in the future? Here’s a price prediction to get us started.

Today’s Zilliqa (ZIL) Price is Down

With a 24-hour trading volume of $139,681,488, Zilliqa currently trades at $0.02712. In the last 24 hours, ZIL’s price has fallen -4.5%. Over 17104180249.8746 ZIL coins are in circulation compared to 16 billion coins in total supply.

Regarding Zilliqa price prediction sentiment, 14 technical analysis indicators show bullish signals, and 16 bearish signals are based on data from January 25, 2023.

Based on our current Zilliqa price prediction, Zilliqa will drop by -9.46% by January 30, 2023, reaching $0.024456. By February 24, 2023, Zilliqa’s 200-day SMA will fall and hit $0.029509, based on our technical indicators. By February 24, 2023, Zilliqa’s 50-Day SMA is expected to reach $0.031235.

Zilliqa Price Forecast Based on Technical Analysis

ZIL price prediction was last updated on January 25, 2023. The general Zilliqa price prediction sentiment is bearish, with 14 technical analysis indicators showing bullish signals and 16 showing bearish signals based on data from January 25, 2023.

Zilliqa’s 200-day SMA will drop in the next month, dropping to $ 0.029509 by February 24, 2023, according to our technical indicators. By February 24, 2023, Zilliqa’s 50-Day SMA is expected to reach $ 0.031235.

Indicators such as the Relative Strength Index (RSI) momentum oscillator can show whether a cryptocurrency is overbought or oversold. Currently, the ZIL market is neutral, as the RSI value is 61.63.

Our crypto experts predict an average ZIL rate of $0.0289971 in January 2023 based on Zilliqa price fluctuations at the beginning of 2022. We can expect prices to reach $0.0269973 at the minimum and $0.029997 at the maximum.

The minimum trading cost for ZIL during February 2023 might be $0.0289971, while the maximum trading cost might be $0.0309969. As a result, Zilliqa might be valued at $0.029997 on average.

Zilliqa’s Unique Selling Point

According to Zilliqa, it is the world’s first public blockchain based on sharded networks. The company claims this solves the scalability issue by facilitating high throughput and a high rate of transactions per second.

With an increased number of shards and a more extensive network, each shard can process more transactions per second as the network grows and the number of shards increases. In addition, they immediately added records to the Zilliqa blockchain after processing, so there is no need to wait for confirmation.

Besides advertising, gaming, entertainment, and financial services and payments, Zilliqa aims to become the blockchain of choice for large-scale enterprise use. According to the platform’s team, it will rival traditional centralized payment methods like VISA and MasterCard in its 2018 position paper.

Anquan Capital and Zilliqa Research hold a significant amount of ZIL, responsible for Zilliqa’s development. Currently, Zilliqa is an active network that processes millions of monthly transactions.

What is the Best Place to Buy Zilliqa (ZIL)?

Bitget is currently the most active exchange for buying and selling Zilliqa. Other several major cryptocurrency exchanges list Zilliqa’s native token, ZIL, on their platforms, including Binance, Huobi, Bitfinex, and Bithumb.

Is Zilliqa (ZIL) a Good Investment?

The coin exhibits high volatility in the short term because of news releases by developers. The startup is deploying DeFi and GameFi networks on its blockchain, using ZIL as a payment method. Such news can increase the coin’s price by 10-15% for a few days. In addition, the positive mood of investors affects the price of the coin.

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