ZIL’s price shows strength for the first time after a long while. ZIL bounces from the downtrend, hoping to end its bearish run as the price eyes a possible breakout from the downtrend. The price of ZIL shows bullish signs as the price cracks a 5% gain despite trading below 50 and 200 Exponential Moving Averages (EMA) with good volume. The price of Zilliqa (ZIL) has been one of the best performances in the early part of the year as many talked so much about its metaverse project “Metapolis” with huge partnerships. The price of Zilliqa at a time complimented the hype around this crypto asset, with the price rallying from a low of $0.03 to a high of $0.2 against tether (USDT). Despite the crypto market facing a new drawback as Bitcoin (BTC) price dropped from a region of $19,000 to $18,100 as the Consumer Price Index (CPI) suggests an increase in inflation affecting the price of BTC negatively with altcoins affected, with recovery from BTC altcoins like ZIL showed some strength. (Data from Binance) Related Reading: This Could Fuel An Ethereum Rally Back To $1,700, Shorts Beware Zilliqa (ZIL) Price Analysis On The Weekly Chart Although the crypto market fell sharply due to the CPI news, the market appeared to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours. The market quickly recovered as most altcoins began to show strength, with ZIL attempting to bounce off from its low of $0.028. ...
