• ZIL breaks past trendline with rising volume, signaling strong bullish momentum.

  • Zilliqa 2.0 upgrade boosts market trust with validator growth and instant unstaking.

  • Javon Marks sees a breakout pattern that mirrors ZIL’s explosive 2021 price run.

Zilliqa (ZIL) surged to $0.02637 on April 23, 2023, climbing 38% from previous support near $0.019. This breakout signals a shift in sentiment as price targets the $0.030 resistance level that could define the next move.

ZIL Breaks Out with Strength on the Charts

ZIL’s daily chart on TradingView confirms a bullish breakout from a descending trendline that capped the multi-week downtrend. Since mid-April, price action has formed higher lows, with the breakout candle closing decisively and supported by rising volume. The move follows days of shrinking candle bodies, hinting at accumulation before expansion.

Source: TradingView

Momentum indicators support the breakout’s legitimacy. The RSI reads 56.03 and trends upward, reflecting growing strength without entering overbought territory. MACD lines remain bullishly aligned, with green histogram bars expanding over recent sessions.

Short-term moving averages show bullish crossover behavior. ZIL now trades above both the 20-day EMA and 50-day SMA, signaling renewed strength. Key Fibonacci levels place support near $0.022 and resistance at $0.030, levels that traders continue to watch closely.

Volume has increased steadily throughout the uptrend, confirming that buyers are actively participating. Combined with stronger price action and momentum, the chart reflects a potential shift from consolidation to trend formation.

Zilliqa 2.0 Upgrade Fuels Market Optimism

Zilliqa’s technical momentum aligns with major ecosystem developments. The Zilliqa 2.0 upgrade introduced instant unstaking and validator expansion through version 0.8.0, with no critical bugs reported during active testing.

A proto-mainnet hardfork is scheduled for next week, pushing the protocol toward full deployment. Testnet and mainnet migration timelines offer added transparency, further encouraging market confidence. The structural changes reduce friction in staking and improve user control. As a result, traders appear more willing to accumulate ZIL during this key transition phase.

Javon Marks Highlights Repeating Breakout Structure

Javon Marks identifies a breakout from a falling wedge pattern, one that mirrors the 2021 structure that preceded ZIL’s explosive rally. He suggests that the price could climb toward $0.20 if momentum holds.

https://twitter.com/JavonTM1/status/1915071292283260958

Marks highlights $0.030 as a key resistance level. A decisive breakout above it may unlock the next vertical phase. He also emphasizes trader behavior, pointing to renewed accumulation patterns. If ZIL follows its historical path, a sustained move could mirror its previous cycle gains.