ZIL is forming higher lows near $0.01071 with breakout volume surging past 67M, signaling bullish momentum may be building.
Weekly candles show tightening ranges and rising pressure as ZIL eyes a breakout from its long-term descending channel.
Zilliqa 2.0's June 10 launch could be the breakout trigger as price structure and volume mirror the April rally from $0.01071.
Zilliqa (ZIL) trades at $0.01146, up +2.69% on the day, with price action hovering just above a crucial support at $0.01071. Key levels between $0.01071 and $0.01493 continue to shape sentiment as price tests bullish continuation potential. At the start of this move, volume and structure are signaling a potential breakout formation.
TradingView’s daily chart highlights two yellow-box consolidation zones where tight price compression preceded strong directional breakouts. One began on April 13, when the price reversed at $0.01071 and surged 39.5% to $0.01493. This kind of clean breakout, supported by rising volume and bullish candles, set the tone for what many see as a pivotal price structure.
Source: TradingView
In June, price returned to $0.01071 and again coiled into a compressed range, this time with volume spiking to 67.89 M. That’s no coincidence, long wicks and large trades near this level suggest aggressive accumulation. It does seem that history is repeating, as another breakout above the green diagonal trendline just printed on the chart.
Traders watching the current setup are noticing consistently higher lows and tightening volatility, which may be on the verge of release. This pattern could spark another attempt toward $0.01400 and possibly a retest of April’s $0.01493 high. ZIL’s structure is once again flashing bullish momentum in line with previous breakout behaviors.
Analyst Forecasts Point to Channel Reversal and Long-Term Upside
Marcus Corvinus provides a broader perspective by mapping ZIL’s movement within a descending weekly channel stretching back to July 2023. He notes that price recently rebounded from the green support trendline near $0.01200, a level that’s proven correct repeatedly as a launchpad for prior rallies.
Source: (X)
Corvinus also emphasizes the horizontal zone at $0.01853, where the price has repeatedly failed to break through over the past year. This level continues to act as a psychological mid-range wall. Should ZIL reclaim it with conviction, the next logical move may carry it toward $0.02500 and the red resistance trendline overhead.
Interestingly, recent weekly candles are forming higher lows with gradually narrowing ranges—perhaps a sign that pressure is building. The crypto crowd is watching closely, and many expect a significant move to follow if this consolidation resolves with volume behind it. Corvinus notes that this time, the structure appears tighter, signaling stronger control by bulls.
Adding fuel to the anticipation, investors are now looking ahead to June 10, when Zilliqa 2.0 is expected to launch. The upgrade may act as a fresh catalyst, injecting renewed interest and potentially triggering a breakout. With technicals aligning and a major fundamental event on deck, ZIL is gearing up for what could be a defining moment in its 2025 trajectory.
