The Cryptocurrency market started off the month of April with a correction as most of the cryptos are signaling red. Though most of the Altcoins have followed the downward trend, there are only a handful of cryptocurrencies that have maintained the bullish cycle. One among those is Zilliqa (ZIL).
Zilliqa Surprises The Market With A Huge Breakout!
Zilliqa is a public and permissionless blockchain that started off in April month on a positive note that has seen a 14% rise since yesterday.
The breakout star, Zilliqa had made a massive gain after the price hit $0.2307 in the early hours today. This bull run saw a 360% pump. At the press time, the ZIL has slightly dropped trading at $0.1998 with a surge of 3.92% in the last 24hrs and a 295.92% surge over the last seven days.
However, with an increase in selling volume, there could be a breakout, but if Zilliqa falls, then the currency can drop to $0.18.
Though Zilliqa didn’t see a breakout in terms of price, the currency did hit new highs in trading volume. As per TradingView reports, Zilliqa’s trading volume has hit seven billion ZIL at some point, while the average trading volume is approximately 100 million ZIL.
If we look at ZIL’s weekly trading frame, Zilliqa did break the resistance barrier at $0.15482 but the currency could not lead towards a new peak. If the bulls fail to reach new highs by the end of this week, the altcoin may retest the purple line acting as a support line for now.
And if the bulls maintain their control over Zilliqa, the currency might see itself heading towards $0.27 by the end of 2022.