Zilliqa Price Prediction: Could Zilliqa Hit $0.1 in 2023?

Key Takeaways:

• Zilliqa price with the recent upward price action is attempting a parabolic recovery aiming to reclaim the lost levels beyond $0.033
• The bullish kickstart for the year 2023 may offer a decent upswing that may persist until the end of the year with a target to reach $0.1 by the end 

Additional Read: BitTorrent Price Prediction

Zilliqa Price History

•  Founded in June 2017, the testnet of Zilliqa went live in March 2018 and the mainnet was launched further in June 2019
• Soon after the launch the ZIL price rose high to mark the highs at $0.213. However, the market collapsed heavily compelling the price to mark the bottom at around $0.006
• The price remained heavily consolidated throughout 2020 and by the second half of 2021, the token began to gain some momentum, which further led to the beginning of a gigantic bull run that raised the price towards its previous highs
• The ZIL price surged from $0.004 to as high as $0.2116 to form a new ATH and quickly dropped as the market collapsed in May 2021
• However, it did make an attempt to rise high but was restricted to around $0.1824 post to which, the markets fell into a deep bearish trap 
• The price has now rebounded from the lowest possible levels and hence the flip is believed to prevail for a long time, gaining significant momentum in the coming days.

Zilliqa Technical Analysis

Source: Tradingview

• The Zilliqa price witnessed a significant upswing in the past few days that raised the price by nearly 60% to reach close to $0.028
• However, the price is consolidating within a pennant, forming a bullish flag but woefully the price is close to witness a rejection 
• With the rejection, the bullish thesis may be invalidated and the price may be compelled to revisit the lower support.
• In case a rebound occurs, then the price may rise may record decent levels that may not uplift towards the pivotal resistance at $0.035 but some levels close to it
• It is worth noting that, the volume has depleted heavily due to which the possibility of a larger upswing remains pretty low

Overview of Zilliqa On-chain Analysis:

Zilliqa Weighted Sentiment

Source: Santiment

The weighted sentiment is an indicator that determines the market sentiments surrounding the token. It combines all the mentions regardless of whether it is positive or negative and compares them with the frequency of their occurrence over time. Further, the levels derived may determine whether the token is under the bullish influence or stuck up within a bearish trap. 

Presently, the sentiments of Zilliqa appear to have been deeply stuck within a bearish trap as the levels have slid down heavily. The levels which are currently hovering within the negative levels signify that the market participants are bearish on the token. 

Development Activity

Source: Santiment

The development activity indicates the efforts of the team in launching new features or products over the platform. It basically points out the progress in terms of fundamentals that have been specified in the roadmap. It certainly does not impact the price directly, but the investors remain bullish if the activity levels are high.

Woefully, the Zilliqa development levels have dropped drastically which signifies that the development activity depleted heavily. The traders may lose confidence in the long term but with the markets flipping out of the bearish trap, the activities may also intensify.

Zilliqa Social Sentiments

Source: Santiment

The Social sentiment of the token indicates the frequency of the mentions or posts over the social media platforms and compares with the mentions of the top 100 tokens according to market cap. If the levels of social sentiments intensify, then the token is believed to gain dominance within the top 100 tokens. 

ZIL’s price had maintained a significant dominance throughout the year and has dropped drastically in the past few months. The traders may have shifted their focus to other platforms due to which they are no more interacting with the Zilliqa network.

Zilliqa Price Prediction for 2023

Zilliqa’s price traded almost within stagnant levels throughout the year 2022, excluding the spike which was completely nullified with the market collapse in May 2022. However, the price is attempting to undergo a significant upswing and hence has rebounded from the lows. The trend is believed to continue until the end of H1 to reach levels around $0.0035.

Further, if the market conditions ease a bit, the upswing could be intensified, and hence by the end of Q3 2023, the price could surge close to $0.0037. After withstanding bearish action at these levels, the ZIL price is believed to close the yearly trade around $0.004. 

Read More: Biggest Crypto Scams Of 2022 In 2023

Zilliqa Price Prediction for 2024

With a bullish close for the year 2023, the price may quickly rise and achieve levels beyond $0.0045 during the Q1 trade. Further by the end of Q2, it may attempt to rise beyond $0.005 but may be restricted at $0.0048 as the bears could jump in. Also, the price may witness a significant pullback here. 

Moving to the second half, the price could rise notably and try to seal off above $0.0052 by the end of Q3 2024. The markets are believed to ignite a firm upswing during Q4 2024 and hence ZIL prices are believed to rise heavily. By the end of 2024, the ZIL price may hover around $0.0065 to $0.0072

Zilliqa PRICE PREDICTION 2025-2030

As the trade heads towards the year 2025, the markets have begun with a minor bull run and hence a notable upswing above $0.009 may be possible. Further in 2026, the ZIL price is believed to slash zero and achieve levels around $0.011. By the end of the 2027 trade, the levels may be intensified to hit $0.02

During the 2028 trade the price may have inflated significantly and reach beyond $0.35 and in 2029 one can expect a significant surge beyond $0.05. During the 2030 trade, the ZIL price is believed to rise beyond $0.08 or an extended bullish push may escalate the price beyond $0.1.

Should you invest in Zilliqa in 2023? 

Zilliqa has been among the older tokens which have withstood market turbulence a couple of times. Hence the network appears to have become more rigid towards the market conditions that may impact the price in a positive way ahead. However, before investing in ZIL or any other token, deep research on the market trends and observation of the chart patterns is imperative.

FAQs