According to recent market analyses, Zilliqa (ZIL) is expecting a significant bullish run. A prominent technical breakout from a falling wedge pattern has been observed on the 12-hour chart. This development suggests that ZIL may soon experience substantial upward momentum.
Zilliqa is trading at $0.02435 as of writing, reflecting a 2% increase over the last 24 hours. This uptrend is supported by a robust trading volume of $19,501,918, indicating strong market activity with a market capitalization standing at an impressive $450,671,422.
ZAYK Charts recently highlighted a significant technical development for Zilliqa. According to their analysis, ZIL has broken out of a falling wedge pattern on the 12-hour timeframe and has completed a retest. This breakout is typically seen as a bullish signal, suggesting that a potential upward wave is imminent. The breakout and retest pattern indicates strong buyer interest and a potential shift in market sentiment towards bullishness.
The technical breakout from the falling wedge pattern is a significant signal. Such patterns often precede substantial price increases. The successful retest further confirms the breakout, suggesting that ZIL’s price is set to rise. This pattern is typically a bullish indicator, signaling the end of a downtrend and the beginning of a potential uptrend.
Zilliqa v9.3.0 Launch Transforms Blockchain With Advanced EVM and ShardingZilliqa’s circulating supply is 18.47 billion ZIL, with a maximum supply of 21 billion ZIL. These figures underline the coin’s significant market presence and potential for growth. Investors are closely watching ZIL’s performance, anticipating that the recent technical signals will translate into substantial gains.
