Bullish Zilliqa price prediction bets are about to be fulfilled as the price action has completed a break of the falling wedge, found on the daily chart of the ZIL/USDT pair. This picture comes on the back of the launch of the Zilliqa-Ethereum pricing bridge.
The ZilBridge is now live on the Mainnet. This bridge is expected to provide seamless movement of Ethereum and Zilliqa tokens across each other’s network. Such cross-chain interoperability enhances uptake and adoption, as users can now use their Ethereum wallets to stake and farm tokens on the Zilliqa network. This bridge could create new opportunities for developers and Zilliqa token holders.
The ZIL/USDT pair is up 9.38% as of writing.
The break of the falling wedge has been completed, and the price is now testing the resistance at 0.0939. The advance above this resistance is expected to continue as the price action pursues the completion of the measured move from the falling wedge. The completion of this move will test the resistance at 0.11627. If the bulls uncap this barrier, 0.13715 and 0.15455 become additional targets to the north.
On the flip side, rejection of the price action at 0.0939 could nullify any bullish Zilliqa price prediction bets. This rejection could usher in a pullback to retest the 0.07750 support. A breakdown of this area sends price action towards the 0.0601 price mark, leaving the 20 July low at 0.0507 as a potential downside target for the future.
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