Zilliqa Price Prediction – Will ZIL Price Hit $1 in 2021?

This Zilliqa (ZIL) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ZIL price analysis and prediction.

Among the cryptocurrencies that are rallying this year, Zilliqa is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.

But for those that are aware, Zilliqa has been around since 2017. It recently made headlines after hitting almost $0.1. This is no accident, as ZIL is very cordial toward the Decentralized Finance (DeFi) community.

Can Zilliqa reach $1 in 2021? We will find out shortly. But before we proceed to our Zilliqa price analysis, let us first answer the question “What is Zilliqa?” in this ZIL price prediction 2021 article.

What Is Zilliqa (ZIL)?

Zilliqa is a blockchain network based in Singapore. It initially used the Ethereum blockchain before developing its own. According to its website, they aim to catalyze and transform digital infrastructure across global industries and communities. This they plan to accomplish by leveraging on their “silicon-smooth, speedy, and cost-effective” blockchain.

One of Zilliqa’s main features is sharding, a technology that aims to improve the scalability of blockchain. It also implements practical Byzantine Fault Tolerance (pBFT) and a programming language called Scilla. Finally, it has a non-custodial staking feature, as well as its governance token gZIL.

Now that we have answered the question “What is Zilliqa?”, let us find out if Zilliqa is a good investment in 2021?

Zilliqa (ZIL) Current Market Status

As of the time of writing this Zilliqa price analysis, ZIL trades at $0.9 with a 24-hour trading volume of $63,192,466. As a result, the price of ZIL has increased by 0.81% in the last 24 hours.

Furthermore, ZIL has a current circulating supply of 11.29 billion ZIL. Currently, the top cryptocurrency exchanges for ZIL are Binance, OKEx, FTX, Upbit, and Huobi Global.

Now, let’s proceed to the next part of this ZIL technical analysis for 2021.

Zilliqa (ZIL) Price Analysis 2021

Currently, ZIL holds the 81st place on CoinMarketCap. But will the latest upgrades, developments, and changes in the ZIL blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ZIL price prediction article.

The above daily frame chart shows the Ascending Channel pattern. This is a bullish pattern which is formed by joining higher highs and higher lows. Based on the graph above, Zilliqa was able to defend its position well against the bears in the early days of the month.

In other words, ZIL is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with Zilliqa.

Conversely, if the bulls turn against the crypto, the price of ZIL might fall. In short, ZIL might break out from its uptrend position and nosedive to a bearish price. This pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline shows the start of a new bearish trend. In contrast, a breakout from the upper trendline signal indicates the beginning of a new bullish trend.

As shown above, at the beginning of this month, ZIL turned from its bear to bull trend. This happens as the result of the high trade volume that occured in that period.

The Relative Strength Index (RSI) of ZIL points at level 54.7, this means that ZIL is at a neutral level. It is neither oversold nor overbought. In this case, traders and investors can confidently trade without worrying about any major price reversal.

Therefore, traders must trade crypto wisely and should not be affected by the market hype. Keeping all this in mind, traders can move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of ZIL.

Since the start of 2021, ZIL’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, ZIL has a competitive market this 2021.

Zilliqa (ZIL) Price Prediction 2021

The chart below shows that ZIL has performed great over the past few days. However, the ZIL price shows a bullish signal. If this trend continues, ZIL might run along with the bears, breaking its $0.25 resistance level and go higher.

Conversely, if the investors do not favor crypto, the bears might take over and pull ZIL from its uptrend position. In simpler terms, the price of ZIL might decrease to almost $0.049, a bearish signal.

Meanwhile, our long-term ZIL price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.25 this year. However, ZIL can hit ATH only if it breaks many previous psychological resistances.

Zilliqa (ZIL) Price Prediction 2022

If this bullish trend continues, ZIL will reach $1.5 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $2. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $1.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Zilliqa (ZIL) Price Prediction 2023

If ZIL holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $4, making it not plummet but play consistently.

Zilliqa (ZIL) Price Prediction 2024

As per the latest upgrades, developments, ZIL price prediction, and new project forecasts of the platform, ZIL investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of ZIL in the crypto market, and it will be the best investment as the price can spike and reach around $6.5.

Zilliqa (ZIL) Price Prediction 2025

In the next four years, ZIL prices could race up to $8. However, reaching this level could not be so difficult for ZIL as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ZIL has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

ZIL has a bright future ahead of it in 2021. With the ongoing developments happening within the ZIL ecosystem, as well as in the overall crypto market, we may see ZIL reach new heights.

Bullish ZIL price prediction 2021 is $0.25. As said above, it may even reach $1 if investors have decided that ZIL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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