Zilliqa (ZIL) Price Prediction 2021: Market Analysis and Opinions
Zilliqa is the native token for the Zilliqa blockchain. The blockchain is designed to be permissionless with the capacity to offer high throughput to process thousands of transactions per second. Zilliqa now has a market cap of about $1,149,104,697. It also has a circulating supply of 11.39 billion out of the maximum supply of 21 billion Zil. In this Zilliqa price prediction, we will analyze its price behavior, important market opinions, significant news, and more.
Zilliqa Price Prediction: Technical Analysis
Zilliqa is down over 50% from its year-high of $0.2376. This is largely due to the general market dip that is ongoing. Most cryptocurrencies have experienced this dip and there is not a clear breakout yet even though some are showing good signs of recovery. Since the year began, ZIL has been rising steadily although it is not among the best performers so far. But what does the future hold for this asset?
At the moment, ZIL doesn’t look very appealing, and investors may find this scary and for good reason. Volatility has greatly reduced, and the asset is trading within a very tight range that is constantly moving towards lower prices. This means there is the tendency for the price to dip even lower in the short term than it already has.
The RSI is at 50 and also dropping fast. As it is still at over 40, this confirms the fact that the price could still drop further as 30 is the level where it is considered oversold and ready for a reversal to the upside.
Two major moving averages, the 50 and 200 MAs are used to determine the direction of price movement and the sentiment concerning an asset. Both MAs have crossed above the ZIL price, which is an indication of a strong bearish trend. Secondly, the 50 MA is dipping towards the 200 MA and will confirm a full bearish reversal when it crosses below. This is likely to happen if the current trend continues in the next few days.
This will throw the market into a full selling spree that could push the price much lower. The MAs above the price have also formed potential resistances that may take some time for the price to break and move upwards. The following are other key resistance and support levels to keep in mind when trading ZIL, according to Walletinvestor:
- Resistance Level (R3): 0.114;
- Resistance Level (R2): 0.112;
- Resistance Level (R1): 0.1076;
- Pivot Point: 0.1048;
- Support Level (S1): 0.10080;
- Support Level (S2): 0.0980;
- Support Level (S3): 0.0940.
Zilliqa Price Prediction: Market Opinions
The following are market opinions on Zilliqa price prediction for the year 2021 from major reputable websites.
Tradingbeasts expects the price of Zilliqa to keep growing progressively up to the end of the year. The minimum price for this asset from now on according to their Zilliqa price prediction is $0.1194427. The price could also grow to a maximum of $0.1844048 by December 2021.
|Month||Minimum Price||Maximum Price||Average Price||Change|
|July 2021||0.1194427||0.1756511||0.1405209||35.17 %|
|August 2021||0.1206073||0.1773637||0.1418909||36.49 %|
|September 2021||0.1217937||0.1791084||0.1432867||37.83 %|
|October 2021||0.1229620||0.1808265||0.1446612||39.15 %|
|November 2021||0.1241893||0.1826313||0.1461050||40.54 %|
|December 2021||0.1253953||0.1844048||0.1475239||41.91 %|
Digitalcoinprice’s Zilliqa price prediction foresees significant price changes in the coming months. The price is expected to reach a year high of $0.1710 in September. The closing price for the year is $0.13907728.
|Month||Average Price ($)||Change (%)|
|Jul 2021||$0.15964695 USD||58.49 %|
|Aug 2021||$0.16333033 USD||62.14 %|
|Sep 2021||$0.17106365 USD||69.82 %|
|Oct 2021||$0.15042131 USD||49.33 %|
|Nov 2021||$0.13524210 USD||34.26 %|
|Dec 2021||$0.13907728 USD||38.07 %|
According to this website, ZIL will reach $0.1748 by July after which it will explode, reaching $0.3409 by August. Based on their ZIL price prediction, the price will then grow continuously to reach $0.6357 by December. This is the most bullish ZIL price prediction so far.
|Month & Year||ZIL Price Prediction|
The end of year prediction, according to this website, is $0.1031, although the highest predicted price for the year is $0.1197. The least expected price from now on is $0.06. This is the most bearish ZIL price prediction so far for 2021.
Latest News and Happenings Concerning Zilliqa
Zilliqa is a blockchain created to facilitate faster transactions than more popular cryptocurrencies such as Bitcoin can. The project is working on different improvements to bring better services to its users. About a year ago, it enabled the Zilliqa staking function with help from KuCoin. With this feature, seed node operators on the network can share their block rewards with delegate stakers.
This is in a bid to keep in step with the fast evolving cryptocurrency space that now has staking at the centre for most projects. Among other features added that have made Zilliqa more versatile are the ability for Ethereum Classic miners to also mine Zilliqa. With a little configuration, ETC miners can switch between the two blockchains at set time periods and mine the two cryptocurrencies.
Meanwhile, Ethereum creator Buterin Vitalik says Zilliqa has a lot of potential for growth and improvement. He said this after acknowledging Zilliqa following a request by a member of the Zilliqa community last year. Vitalik said just like Ethereum, ZIL has a lot of room to succeed and prosper.
At the moment even though the price doesn’t look very attractive, with such developments in place, ZIL could potentially compete with other top cryptocurrencies in the emerging world of blockchain and crypto in the near future.
Zilliqa Price Prediction: Verdict
ZIL price is down, and this is not unusual as the entire market is facing the same situation. However, what is not clear is for how long the bearish trend will last. The good thing about such a bear market though is that investors can pile up for the next bounce, and that is the opportunity that is available for ZIL fans right now.
Featured image: kryptomoney.com