Zilliqa (ZIL) Golden Cross Has Arrived- Will it Finally Explode Out of its Months Long Accumulation?
After a shaky start on the exchange market, Zilliqa (ZIL) is finally showing signs of a major upward drive. The latest charts indicate a bullish future for the cryptocurrency with a golden cross appearance taking center stage.
— Domen T (@DomZilliqa) March 1, 2020
From the chart above, a period of accumulation is also clear, especially in the last month. The narrow trading ranges between Aug 2019 and Feb 2020 indicate an accumulation period. ZIL is showing that it is ready to break from its accumulation period judging from the rise the cryptocurrency experienced in February.
Its high is still within the accumulation range; however, the sharp rise maybe the promise of a future sterling campaign.
Bullish Fundamental Events on The Horizon
The upward trend experienced and expected in the future may also be; as a result, the events and possible announcements expected from Zilliqa.
For example, users are excited about staking ZIL as it is expected to be highly profitable. A major indicator of the confidence uses have on the cryptocurrency is the holding of ZIL by miners.
The increasing confidence in the cryptocurrency by its supporters and user base is an indication of the expected strong performance of the cryptocurrency.
Furthermore, this may also be the year that ZIL is listed on the Huobi Global platform.
The launch could open a wider market for the cryptocurrency, which would, in turn, likely lead to higher demand and price.
From the tweet above, other expected events include DeFi and Myrewards digital marketing, which will work towards improving the presence of Zilliqa in the decentralized ecosystem. This is expected to have a positive impact on the price of ZIL.
Featured Image Source: Shutterstock
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at firstname.lastname@example.org