Zilliqa 2.0 has launched, bringing EVM compatibility and institutional features. Will this upgrade trigger a sustainable recovery in ZIL's price? Here's the breakdown.
Zilliqa, the blockchain known for its sharding, has officially launched Zilliqa 2.0, marking a significant move towards institutional-grade infrastructure and Ethereum compatibility. Can this sweeping upgrade trigger a price surge?
Zilliqa 2.0: A New Chapter
Zilliqa 2.0 introduces full EVM support, enabling the deployment of Ethereum-native applications. Interim CEO Alexander Zahnd emphasizes that Zilliqa 2.0 is now institution-ready and developer-friendly, built for real-world impact. The Chaikin Money Flow (CMF) indicator signals increased inflows, likely due to investor excitement surrounding Zilliqa 2.0.
Technical Indicators Point to Potential Reversal
Zilliqa's technical indicators show signs of a potential reversal. The Moving Average Convergence Divergence (MACD) observes a bullish crossover, indicating a positive trend. Crypto analyst Emilio Bojan notes ZIL's resilience around key Fibonacci levels, bouncing off the 0.618 level at $0.01042. Bulls are eyeing a short-term move toward $0.01129, the next immediate resistance.
ZIL Price: Recovery on the Horizon?
Currently trading around $0.0106, Zilliqa is just below the resistance level of $0.0107. A successful bounce could push it towards $0.0115. If ZIL secures $0.0107 as support, a further rise is likely. However, bearish market conditions could push the price down to $0.0100, invalidating the bullish outlook.
The Road Ahead for Zilliqa
Despite trading significantly below its all-time high, Zilliqa's upgrade is fundamentally bullish. Traders remain cautious, awaiting confirmation of a reversal supported by stronger volume and sustained interest. Zilliqa 2.0's structural improvements could pave the way for long-term recovery if they translate into real user growth and ecosystem traction.
Final Thoughts
Zilliqa's ZIL 2.0 launch is definitely stirring up some excitement, and the price action is one to watch. Will it be a game-changer, or just another blip on the crypto radar? Only time will tell, but for now, keep those eyes peeled and maybe, just maybe, we'll see ZIL make a serious comeback. Fingers crossed!
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
