The price of Zilliqa continues to fluctuate due to uncertainty in the market. Altcoin encounters growth difficulties, often succumbing to the influence of external factors.
However, the launch of Zilliqa 2.0 can be a turning point for cryptocurrency, causing positive changes in the price and mood of the market.
Zilliqa strives for new heights
The Chaikin Money Flow (CMF) indicator shows a sharp increase, signaling an increase in investment in Zilliqa. This is due to the launch of Zilliqa 2.0, which attracted the attention of investors. The new version supports EVM, which simplifies the deployment of applications created for Ethereum.
Her modular architecture includes the consensus Proof-OF-STAKE and inter-foundation. In future updates, smart accounts, zero knowledge and instruments for confidentiality will appear. Alexander Zakhnd, Provisional Director General of Zillqa, said Beincrypto that Zillqa 2.0 will also attract institutional investors.
The excitement around these improvements probably attracts new investors, since the community expects Zillqa scalability and its practical application.
Zillqa technical indicators indicate a possible reversal. The MACD indicator shows a bull intersection, which can signal the beginning of growth. If this impulse is preserved, Zilliqa will receive a chance to recover after previous losses.
To continue growth, support for the entire cryptorrhoids is necessary. If bitcoin and large altcoins continue to strengthen, this may push the price of Zilliqa up. However, any reduction in the market threatens to limit the growth potential of Zilliqa by stopping it at key resistance levels.
The price of ZIL can recover
At the time of writing this analysis, Zilliqa is traded at $ 0.0106, just below the key level of resistance $ 0.0107. The last positive changes around Zillqa 2.0 can contribute to restoration. A successful rebound from this level, supported by an influx of funds, can push altcoin to higher levels.
If Zilliqa rises above $ 0.0107 and holds at this level, the price will receive a chance to grow to $ 0.0115. In this case, the trend will remain bull and reveal the road to new price levels.
However, if bear mood continues to dominate, the price of Zilliqa can decrease to $ 0.0100. This fall will cancel the bull forecast, nullifying recent successes and returning the price to the consolidation phase. Investors should carefully monitor the market in order to understand whether the bull impulse will remain.
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Source: Cryptocurrency
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