ZILKA (ZIL) The cryptocurrency of the year so far. The coin has recently reached unimaginable heights. Despite analysts predicting a pullback, ZIL continues to show incredible upward resilience. There is still more momentum for growth. Here is what you need to know:
In the last 7 days alone, ZIL has gained over 200 per cent.
However the coin has slowed down with a drop of 10% in the last 24 hours.
It is likely that the uptrend will continue despite the slowdown in recent days.
Data Source: Tradingview
Zilliqa (ZIL) – Is an eve of $0.5 possible?
Moving towards $0.5 would be huge for ZIL. This would mean that the coin would have to add another 100% or so to today’s price. Although it may seem impossible, with ZIL everything is really possible for a coin to grow by 200% in seven days.
Furthermore, the chart indicators are showing a bullish trend. The fact that ZIL has defied all bearish predictions in the recent past suggests that it is a bullish asset. In short, even those who are not enthusiastic about it may be compelled to buy to ensure that they do not miss out on these benefits.
Because of this, there is a possibility of getting more benefits. However the challenge for the bulls right now is that most are likely to lock in the profits. If this happens, we could see a slow upward movement followed by a decisive pullback of at least 35%.
How to play Zilliqa (ZIL) Setup?
There are two ways to run the current ZIL setup. First, it makes sense to buy and ride the potential upside towards $0.5. But it will depend on how the coin performs in the coming days.
ZIL has lost 10% in the last 24 hours. If such double digit losses are posted on two consecutive days, the trade becomes very risky. Secondly, you can wait for the pullback to occur and then buy.