Hi friends hope you are well, and welcome to the new update on Zilliqa .
Bullish harmonic move:
In the month of Mar 2022, Zilliqa formed a harmonic bulli reversal pattern with BTC pair and started a big pump.
Broke out big wedge:
During the pump in Mar 2022, Zilliqa also broke out huge wedge pattern in the weekly time frame. After a big rally Zil was rejected by the resistance of $0.23 and now testing teh support of $0.068 and also the support of 25 SMA . The next support will be at $0.05.
There is also 200 weekly simple moving average support below the $0.05 support level . The Stochastic is entering the oversold zone in the weekly chart.
In the 4-hour time frame, Zilliqa has broken out a down channel and after a short rally it has been rejected by the resistance of $0.10, but still moving above the channel's resistance.
The target of the channel is $0.133.
Another wedge formation:
On a very small 1-hr time frame, Zilliqa has formed another falling wedge pattern. If Zil breaks out this pattern then the probability for breaking out $0.10 resistance will be high.
Even though the market is quite bearish , but Zilliqa is breaking out every pattern one after another. Therefore, if there won't be any Bitcoin dump then Zil can start another bullish rally soon.