ZIL has gone on the air again today. we saw this a few weeks ago even pass. ZIL was also inside the Crypto Experts Scoop environment a much-discussed cryptocurrency for members. Within this community, we regularly share technical analysis from our analyst Appy-Crypto, but we also discuss various projects based on fundamental analysis. Today we also take a look at Zilliqa (ZIL) below.
One of the best performing cryptocurrencies of the day is Zilliqa (ZIL). ZIL managed to skyrocket by about 17% in the last 24 hours. However, in the last seven days we saw a small drop of around 2%. In the last 30 days, the ZIL is up 215%. ZIL is ranked 63rd by market value at the time of writing.
What is Zilliqa (ZIL)?
Zilliqa has a very simple goal on paper. This goal is to build a system that allows processing as many transactions as possible per second. This system they devised is also called fragmentation called. In other words, sharding means that the way miners be used more efficiently. Instead of all miners processing the same row of transactions, all transactions are spread across different rows. Miners can work on all of these different queues in smaller groups. As a result, more transactions are processed simultaneously and the order book will no longer be full of pending transactions.
Zilliqa also offers a platform for developers where they can create decentralized applications (dApps). Zilliqa’s token, ZIL, is used on this platform by developers and users of dApps.
Why is the value of Zilliqa (ZIL) increasing?
The increase may be related to an event that Zilliqa has announced and will take place today. This event is called Zilliqa’s vision: 2022 and beyond and will focus on what the Zilliqa team plans to do with the project. Investors, anticipating what will be said, may have bought the ZIL token in the hope of some good news. You can register for the event through this website registering The event will take place from 18:00 to 19:30 CEST, or from 18:00 to 19:30.
NB: Jumping now can be potentially risky. This can be a buy the rumor sell the news be moment
Furthermore, we see that almost the entire market is moving higher. It is often the case that if bitcoin (BTC) shows green numbers, other altcoins do as well. The increase could also be related in part to the fact that it is a green day in the market.
ZIL technical analysis
When we look at the ZIL chart, we see a number of surprising things. The technical analysis we did last time is still highly respected by the race. All the trend lines drawn were tested. It is also clear to see that the price still struggled with some levels. The peak of the sharp rise of the last few days came right at the bottom of the previous peak.
This resistance was still too strong for ZIL. After the rejection at higher levels, we have pulled back towards the $0.116 level. Here, the price seems to be finding support at the moment and is even using this platform to climb back up. Tonight it will be a matter of what exactly is said at the Zilliqa event whether or not the price can go back up.
What are the expectations for the next period?
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