Zilliqa Price Prediction: A Jump to $0.10 Seems Likely

Summary:

In this Zilliqa price prediction, we explain what to expect now that it has formed a small double bottom pattern on the 4H chart

Zilliqa price is up slightly today as other altcoin prices rise. ZIL is trading at $0.0815, which is about 34% above the lowest level in June. The coin has a market capitalization of more than $919 million making it the 76th biggest coin in the world. At its peak, Zilliqa was in the top 30 of the biggest coins in the world.

What happened: Zilliqa is a blockchain network that was developed to help scale transaction rates as the number of miners increase. The network allows the transaction rates to more than double with every few thousands nodes added to the network.

Recently, Zilliqa has expanded into the non-fungible marketplace industry. It launched its marketplace together with Polaris Sports that featured 10 iconic football starts. Sales worth more than $1.2 million were made in less than 24 hours.

The developers also launched the Zilliqa Initial Launch Offering (ZILO). The $STREAM launch was successful, raising more than $3,4 million in 10 minutes. The developers also released several alphas of the upcoming v 8.1.0 onto the testnet. So, what next for the Zilliqa price?

Zilliqa price prediction

The four-hour chart shows that the ZIL price declined to $0.0600 on June 2022. The coin has risen by more than 30% since then. It is slightly below the descending green trendline that connects the highest points since June 4. It has also remained along the 25-day and 50-day exponential moving averages (EMA), which is a sign that its volatility has dropped.

A closer look shows that it has formed a small double-bottom pattern. Therefore, the coin will likely break out higher as bulls target the next key resistance at $0.10, which is about 25% above the current level. On the flip side, a move below the $0.075 will invalidate this trend.