The coin that has risen the fastest from the top 100 today is Zilliqa (ZIL). ZIL was able to gain about 30% in the past 24 hours, where bitcoin (BTC) rose just 2% today. ZIL is also a very popular coin in the Premium environment for members of Crypto Insiders. Within this community, various technical analyzes are shared daily by our analyst AppY-Crypto. ZIL is also discussed here. AppY looks at the chart based on Fibonacci and Elliott wave analysis and tries to find interesting entry and exit points based on this.

What is Zilliqa?

Zilliqa wants to improve the transaction throughput problems that many blockchain projects struggle with through an innovative solution. They want to do this through sharding† In other words, sharding is the distribution of mining power so that it can be used more efficiently.

Instead of there being one row where all transactions are put in, multiple rows are formed. All miners can therefore spread out over the different rows instead of having to fight each other to process transactions from that one row. In this way, more transactions can be processed per second and the transactions will not accumulate.

Recent developments Zilliqa (ZIL)

A lot has happened for Zilliqa in recent times. In the past month, the team behind the project released the roadmap for 2022. This is of course always important for the token holders as they would like to know what to expect from the project and whether they agree with the direction the project wants to take.

In addition, Zilliqa has also become a member of the Blockchain Game Alliance, which means that Zilliqa is also taking steps within the crypto gaming sector. This could possibly get interesting! All developments of the past month can be read in this blog post of the team.

Technical analysis ZIL

ZIL has been a very interesting coin in recent weeks. If we look at the chart of ZIL, we see that the price has reached a number of levels that we are in previous analyses have signed has respected. The USD 0.19 turned out to be too strong and has now become the peak where the price has reversed. The price then seemed to react around the USD 0.11 support, but because the entire market was in the process of making a significant correction, ZIL was unable to maintain this level.

The price continued to fall. If we look at the RSI, we see that the price has moved in for a while oversold area was located. This area was tapped and the course shot into the air almost immediately. Should we break through the USD 0.095 resistance, we could move higher again. All technical indicators have cooled down considerably over the past few days and it seems that the price is looking to go up again. We will in any case keep a close eye on the course!

What are the expectations for the coming period?

Do you want to stay up-to-date, receive more technical analysis for ZIL or ask questions about this? In the Crypto Insiders Premium area for members we discuss the crypto news and we will continue to share further updates with you. Additional technical analysis is also shared here about other coins covered in this section. Are you considering taking a position in ZIL? In our Premium member environment, experienced traders and analysts regularly share their own strategies and price analysis. By sharing knowledge with each other on a daily basis, we try to stay ahead of the market and determine the right buying or selling moments.

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