Zilliqa (ZIL) Shows Bullish Divergence, Targets 320% Gain

Zilliqa (ZIL), the native token of the Zilliqa blockchain, has exhibited a strong bullish divergence, suggesting a potential major rally in the market. The token has maintained a descending support line for over three years, with repeated bounces and no lower lows since mid-2022. This pattern indicates a consistent upward momentum, particularly near each support test since 2022.

The Relative Strength Index (RSI) further supports this bullish outlook, showing higher lows while the price recorded lower lows. This divergence has been consistent over the last three major price touches at support, aligning with MACD patterns that, although not visible on the chart, have historically supported these movements.

ZIL is currently trading at $0.01063, with a 0.06% daily gain and an 18.42% drop in volume. This reflects steady but quiet market activity, with the price fluctuating between $0.01058 and $0.01070 during the session. The market capitalization stands at $207.47 million, indicating slight growth. The 24-hour chart shows initial volatility followed by a steady climb in the second half of the session, with a volume-to-market cap ratio of 3.87%, suggesting moderate trading activity.

The chart presents a descending pattern where ZIL trades between $0.01 and $0.015. The lower boundary has served as the main support zone, with past touches at this trendline preceding price gains of over 100%. The price remains below horizontal resistance, but no lower low has occurred since 2022. A projected move on the chart marks a target between $0.044 and $0.045, with previous recoveries from the same trendline resulting in multi-month gains.

The narrowing price ranges in recent months, along with visible reductions in volatility during each contact with the support line, indicate that the price still respects the established support. This consistent setup suggests that ZIL is preparing for a major rally, with the potential for significant gains if the support line holds.