Zilliqa's price action forms a descending wedge pattern with consistent support touches, signaling a possible bullish breakout structure.
RSI and MACD indicators show a strong bullish divergence, suggesting weakening bearish pressure and potential upward price momentum.
Analyst projects a 260% to 300% price increase back into the $0.044 range if volume confirms a breakout above the current wedge.
Zilliqa (ZIL) is showing early signs of a major bullish reversal, backed by strong technical divergence on key indicators. With the price maintaining support and momentum indicators rising, a breakout may be imminent.
Strong Divergences Signal Possible Trend Reversal
According to crypto analyst JAVONMARKS, ZIL is exhibiting a “massive bullish divergence” across both the Relative Strength Index (RSI) and the MACD. These divergences—where price remains flat or drops while momentum indicators trend higher—are often early signals of a shift from bearish to bullish market sentiment.
The ZIL chart shows a long-standing descending wedge pattern, characterized by lower highs and lower lows converging toward a support line. Each dip in price continues to respect this trendline, suggesting buyers are stepping in at consistent levels. The pattern is also accompanied by falling volume, a common trait seen before breakout attempts.
Bullish Setup Projects a Return to $0.044 Levels
JAVONMARKS’ analysis outlines a potential move of 260% to 300% if ZIL confirms a breakout from this wedge structure. A breakout would be expected to send the price back into the $0.044 range, where previous resistance levels are situated. The clean upward projection arrow on the chart aligns with this thesis, indicating room for a sustained rally.
For this move to validate, market participants will look for a breakout candle above the descending wedge, followed by a surge in volume. Such signals would indicate renewed investor confidence and accumulation.
ZIL Holds Support as Market Watches for Breakout
As of writing, Zilliqa is trading at $0.01066, up 0.39% in the last 24 hours, with a 24-hour trading volume of $7,090,283. While the weekly performance remains flat, technical indicators suggest underlying strength.
The price structure, RSI divergence, and wedge formation together point to a likely breakout scenario. Traders now await confirmation signals before positioning for the expected upward move.
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