Zilliqa (ZIL) is hands down the crypto of the year so far. The coin has recently surged to unimaginable heights. Despite analysts predicting pullbacks, ZIL has continued to show incredible upward resilience. There seems to be more upside for growth too. Here is what you need to know:
ZIL has gained over 200% in the last 7 days alone.
The coin has however slowed with a 10% pullback in the last 24 hours.
It is likely that the uptrend will continue despite slowing in recent days.
Data Source: Tradingview
Zilliqa (ZIL) – Is $0.5 eve possible?
Surging towards $0.5 will be massive for ZIL. This would mean the coin will have to add another 100% or thereabout from its price today. While it may seem unlikely, for a coin that has surged by 200% in seven days, everything is indeed possible with ZIL.
Besides, chart indicators show a bullish trend. The fact that ZIL has defied all bearish predictions in recent days makes it a bullish asset. In essence, even people who are not upbeat about it may be forced to buy to ensure they don’t miss out on these gains.
Because of this, it is likely that more gains will come. The challenge though for bulls right now is the possibility of a majority of folks starting to lock in profit. If this happens, we may see slowed upward momentum followed by a decisive pullback of at least 35%.
How to play the Zilliqa (ZIL) setup?
There are two ways to play out the current ZIL setup. First, it makes sense to buy in and ride a possible surge towards $0.5. But this will depend on how the coin performs in the day ahead.
In the last 24 hours, ZIL has lost 10%. If such double-digit losses are posted in two consecutive days, then the trade becomes very risky. Secondly, you could wait for the pullback to come and buy then.