As is usually the case in the cryptocurrency industry, the momentum can switch in either direction fairly quickly. If the Zilliqa price is any indicator, the coming hours will undoubtedly get very interesting. The token notes very solid gains, which is partially due to its main net launching fairly soon. Sustaining this uptrend will still be difficult under the overall market circumstances.
Zilliqa Price Uptrend Shows big boy Moves
It has been a while since people openly discussed Zilliqa. Whereas this would be disastrous for most cryptocurrencies, it doesn’t necessarily matter much where this token is concerned. It would appear the developers are working on finalizing the main net launch, which is slated to occur in a few days from now. As such, it is possible this price spike is merely a pre-launch pump, albeit only time will tell if that is indeed the case.
Over the past 24 hours, there has been a notable increase in Zilliqa’s value. There is a 5.3% gain in USD follow, as well as 5% gains in both BTC and ETH value. All of these signs are rather bullish where this token is concerned. One also has to keep in mind the ZIL trading volume seems to be picking up steam in quick succession. If this trend proves to be sustainable, the coming hours and days may prove to be rather interesting.
On social media, there is a lot of attention for Zilliqa all of a sudden Not entirely surprising, given this current price trend. I’m Crypto Hero confirms the main net launch in just over a week from today will be a driving factor for this uptrend in the coming days. It also seems Binance will support the token transition when it takes place, which is always a good sign.
— 🙋🏻♂️ I’ᴍ Cʀʏᴘᴛᴏ Hᴇʀᴏ 👉🏻 Ƀ (@imcryptohero) January 22, 2019
No one will be surprised to learn some cryptocurrency enthusiasts are turning their back on the “established” projects. Adithya Das is confident Ethereum will slip down the market cap rankings in the future, although that may not necessarily happen anytime soon. It is certainly true Zilliqa is getting a lot of attention for its smart contracts, but it doesn’t rival any of the top projects as of yet.
The only reason $ETH was on #2 was because of the Constantinople update hype (which got delayed) . ETH is basically shit rn. $XRP for cross border remittances & $ZIL for smart contracts & a ETH alternative.#Zilliqa #ZIL #XRP #XRPcommunity #XRPthebase #xrpthestandard #DecoupleBTC https://t.co/oKquCcyKQQ
— Adithya Das (Crypto is here to stay) (@adicool15) January 22, 2019
When looking at the current price chart, it quickly becomes apparent Zilliqa has been on a somewhat bullish trend for a while now. As higher highs are recorded along the way, it will prove difficult to break the trend. At the same time, all it takes is one day of ultra bearish Bitcoin trading to negate any of these gains in very quick succession. For now, that isn’t materializing, but the threat still looms overhead.
$ZIL Keeps riding this ascending channel, some hours ago it bounced over the EMA50(green) that is also at a support level with strengh followed by a UCTS buy signal. MACD about to bullcross and RSI moving up. Volume spiked a little. Try to target top section of the channel! #ZIL pic.twitter.com/00kppxjJ9P
— Nico (@CryptoNTez) January 22, 2019
Based on the current circumstances, it would not be impossible to see the ZIL price hit $0.025. It currently sits at $0.222, or 619 Satoshi. All it would take is a minor further uptrend to keep this momentum going throughout the rest of the day. In the world of cryptocurrencies, anything can happen when people least expect it. How this will affect Zilliqa throughout the remainder of this week, is anyone’s guess at this point.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.