Zilliqa (ZIL) Price Poised for 260% Gain as Bullish Signals Strengthen

Zilliqa (ZIL) has been exhibiting a descending wedge pattern, with the price consistently touching the support line, indicating a potential bullish breakout. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are showing strong bullish divergence, which suggests that bearish pressure is weakening and upward price momentum is building.

According to crypto analyst JAVONMARKS, ZIL is displaying a "massive bullish divergence" across both the RSI and the MACD. This divergence, where the price remains flat or drops while momentum indicators trend higher, is often an early signal of a shift from bearish to bullish market sentiment. The descending wedge pattern, characterized by lower highs and lower lows converging toward a support line, further supports this bullish outlook. Each dip in price respects this trendline, indicating that buyers are stepping in at consistent levels. Additionally, the pattern is accompanied by falling volume, a common trait seen before breakout attempts.

JAVONMARKS’ analysis suggests that if ZIL confirms a breakout from this wedge structure, the price could increase by 260% to 300%, potentially returning to the $0.044 range. This range represents previous resistance levels, and a clean upward projection arrow on the chart aligns with this thesis, indicating room for a sustained rally. However, for this move to validate, market participants will look for a breakout candle above the descending wedge, followed by a surge in volume. Such signals would indicate renewed investor confidence and accumulation.

As of the latest update, Zilliqa is trading at $0.01066, with a slight increase of 0.39% in the last 24 hours. While the weekly performance remains flat, the technical indicators suggest underlying strength. The price structure, RSI divergence, and wedge formation together point to a likely breakout scenario. Traders are now watching for confirmation signals before positioning for the expected upward move.