Zilliqa Price Prediction: Bear Trap May Trigger Recovery Opportunity In ZIL

Zilliqa's (ZIL) price witnessed a roller-coaster ride in the past two months, starting from a perpendicular rally near the March-end and then a striking dip in April. Furthermore, the ongoing correction has recently pierced the 0.786 Fibonacci retracement levels, but today's sudden price jump marks it as a false breakdown.

Timeline of Zilliqa

Until this last month's poor performance, 2022 was an awesome start for Zilliqa. They were bucking the overall downtrend and went up more than 4x up to a recent high of 21 cents before being dragged down by these market conditions we are facing.

Citing the official crypto developers' resource, CoinDesk reported that the Ethereum Foundation has rescheduled the transition to the Proof-Of-Stake consensus algorithm. The Eth1 and Eth2 networks merger with the subsequent abandonment of mining as a means of transaction validation was planned for late 2021 – early 2022.

Be[in]Crypto takes a look at the five cryptocurrencies that decreased the most over the past week, more specifically from April 22 to 29. The post Zilliqa (ZIL) Decreases 63% in April: Biggest Weekly Losers appeared first on BeInCrypto.

Zilliqa's(ZIL) price has declined for five days, registering a 28% fall from the $0.136 resistance. As a result, the coin price breached the $0.1 psychological support suggesting the seller may extend the correction phase with the $0.81 mark as the next target.