Since the Metapolis event on April 2, Zilliqa’s price has fell to the mid support reaching $0.15. Today the price went under $0.14 and current is at $0.13881.
What is next?
Based on technical analysis Zilliqa’s stock has formed a downside wedge which is already full and ready to take off. This means only one thing: a jump up.
Question is, how high? Could it be ATH or is it just a jump to $0.17-0.18 and then back to $0.10?
Considering that Zilliqa came back from the death near April and touched $0.23 with so much hype around it and the fact for reaching the all time high, yet it didn’t reach. Retail investors are waiting for that all time high already long while. The anticipation for Zilliqa’s ATH is higher than ever before.
Why now? Why would ATH be now just right on this downwards leading wedge?
- ATH anticipation and excitement
- Knowing the possibility for short term gain
- Technical analysis makes sense
- Everybody knew it was going to fall and then rise, is this THE RISE?
There are multiple factors why traders and investors would think that this falling wedge would lead to all time high. Will it? It is about uncertain but mysterious because of possibility of large short term gain.
What does bitcoin price and BTC trading activity has to do with this? And also ETH recent pump?
BTC and ETH prices are rising but based on technical analysis bitcoin has been hitting the resistance line of near $50,000 ever since beginning of April and late March. According to multiple analysts and professional traders it is very likely, perhaps even almost certain that Bitcoin will drop down to estimated 42,000 USD range. Note that Ethereum has been rising together with Bitcoin and just recently Ethereum overtook Bitcoin in trading. However once Bitcoin starts dropping, everything drops, and so will Ethereum. The drop estimation is at least 10-20% and it is estimated to happen in the near days, perhaps even this week or next.
How does this relate to Zilliqa’s price and trading?
Bitcoin drop will initiate a large market drop which could reach 10% or more including Zilliqa. Currently Bitcoin is still trying to push higher, something for 50,000 USD. During this push the crypto market still gaining profits, but not for long anymore. Already today we can see the global crypto market pulling back. The major correction is happening which means the following:
- Alt season starting soon? Money is moving out of Bitcoin market cap and flooding into alts
- Huge traders’ and investors’ anticipation for gains on short and longs is increased
- Risk trading is increased
Within April we can see huge movements for alt coins starting from estimated April 14. Zilliqa is one of the most watched alts today. Everybody knows the potential of Zilliqa. Also there are news that Zilliqa will release a roadmap to Metapolis in mid April during another event.
Also Axie Infinity (AXS) doing an event in April as well, and also Yuga Labs are launching the Otherside Metaverse for Bored Ape Yacht Club.
April is definitely going to be huge for alts. Remember, money is going out of Bitcoin and going into alts based on analysis of many professionals in the industry.
It is very high chance ATH is coming for Zilliqa in April reaching $0.25 or perhaps even $0.30.
However don’t get too excited because the market correction will take place and the gains could turn to losses. It is always important to consult with financial adviser.
Early news from Zilliqa’s twitter was mentioning Q3 2022 Metapolis launch
In the recent Twitter material and chat between Zilliqa and community, a lot of information was disclosed from Metapolis event. Metapolis is actually a 3D world with avatars and cities and crazy things. Based on metaverse market, it is very likely that if Metapolis launch is as real as it was presented by Zilliqa team, the market price of Zilliqa can be way over $1.
Note that 3 years ago Waves was just a penny crypto firm, and in the April’s push it reached over $60 per stock. Decentraland and TheSandBox market caps are just the same, and if we take Metapolis seriously as an actual Metaverse, Zilliqa could turn out to be one of the leading crypto firms for Metaverse industry with at least $3-5 price per stock.
What if the price of Zilliqa goes down to $0.10 or below?
Considering the historic data it could be possible, but also at the same time, checking the historic data we can clearly see that third massive wave could break out everything that has been happening for the past years in the Zilliqa ecosystem. A possible crypto revolution is coming. Will Zilliqa make it? We will have to see.