- Over the past year, the price of the Zilliqa crypto has declined by 14%.
- ZIL crypto price has been trading in green for 60% of the time in the last 24 hours.
Zilliqa is a blockchain platform using sharding for scalability, capable of processing thousands of transactions per second. Launched in 2019, its mainnet aimed to address blockchain scalability issues.
ZIL tokens are used for high-throughput dApps, with a focus on security through the Scilla programming language. Led by CEO Xinshu Dong, the team originated from research at the National University of Singapore.
Zilliqa’s onchain market cap is worth $3.498 Million following which the circulating supply market cap of the crypto is $442.07 Million. It further has a total of 23.4K holders and the current price of the token is $0.03.
The stablecoins market cap of the Zilliqa crypto is $3.11 Million and the total raised amount by the token is worth $1 Million. Also, the total value locked for the crypto is $2.83 Million.
Zilliqa crypto has witnessed a decline of 7.75% in its market cap in the last 24 hours. Also, the market cap ranking of the crypto is #155 as per CoinMarketCap. This is further followed by a market cap of $443.616 Million.
The trading volume for the crypto further has witnessed a decline of 4.0% in the last 24 hours which further results in a traded value of $33.854 Million. Also, the crypto has very good amount of liquidity as the volume/market cap ratio of the crypto is 8.09%.
Zilliqa has 82% of its maximum supply supply in circulation which results in a circulating supply of 17.372B ZIL. Also, the total supply of the crypto is 19.047B ZIL and the maximum supply of the crypto is 21.0B ZIL.
The market cap dominance of the Zilliqa token is 0.02% which further is followed by a fully diluted market cap of $532.26 Million. The volatility of the ZIL crypto price is also high which results in a volatility of 15.73%
The supply inflation of the crypto is high resulting in 9.48% and the sentiment of the crypto is also bearish. Moreover, the fear and greed index of the crypto is showing greed among the investors.
Zilliqa Crypto Derivatives Analysis
Huge long liquidation in the crypto can be seen following the past few days which shows the dominance of sellers in the market. The derivatives trading volume of the crypto further has witnessed an advance of 5.2% in the last 24 hours resulting in a traded value of $45.46 Million.
The open interest of the token has witnessed a decline of 18.7% and the long liquidation for the crypto is worth $236.99K. This is further followed by a short liquidation of $3.22K.
ZIL Crypto Technical Analysis
The ZIL crypto price is forming lower low swing pattern on the chart and the price is consistently declining to lower lows. Despite this, a dynamic trendline can be seen where the price of the crypto is taking support for very long time.
Following the most recent price action, the price of the crypto has taken rejection from a major trendline and if it further forms a higher high swing, a surge in the price might be seen in the future.
ZIL/USD Chart by TradingView
Although the 50-day and the 200-day EMAs are trading in a golden cross, the price of the crypto has declined below the 200-day EMA. The following EMAs are also sliding towards the level indicating the possibility of death cross in the future on the daily chart.
The MACD indicator is also showing weakness on the chart as the MACD and the signal line are trading below the zero level.
The RSI has also declined below the 50-level and is sustaining below the same indicating weakness in the price of the crypto.
Summary
Zilliqa crypto’s price has faced a 14% decline over the past year, currently trading at $0.03. With a bearish sentiment, it’s forming lower lows, though supported by a dynamic trendline. While a surge is possible if higher highs form, indicators like MACD and RSI signal weakness, possibly leading to a death cross.
Technical Levels:
- Support Levels: $0.01350 and $0.01930
- Resistance Levels: $0.03450 and $0.0409
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.