- Zilliqa has emerged out of a downtrending wedge, a chart formation that previously precipitated an 11,000% price surge in early 2021.
- Strong signals from technical measures such as RSI and MACD affirm momentum and growing interest from long-term investors and traders.
- Current price action and matching historical patterns indicate that ZIL should target $0.20, a potential +1,350% move if trends continue.
Zilliqa (ZIL) is once again breaking out of a familiar pattern that previously led to an explosive rally, sparking renewed attention from traders and analysts.
Falling Wedge Breakout Signals Potential Upside
Crypto analyst JAVONMARKS noted that ZIL is “breaking out of yet another Falling Wedge Pattern” with price action resembling its previous surge. The tweet points to historical cycles where ZIL consolidated inside a descending wedge before launching into a major rally. In its 2020–2021 cycle, the altcoin moved from long-term accumulation to a parabolic climb, gaining over 11,000% and topping near $0.25.
The current chart shows a similar structure, with ZIL stabilizing above $0.01+ since mid-2023 and forming a rounded bottom. This formation, along with compressed volume and higher lows, suggests accumulation is nearing its end. According to JAVONMARKS, if history repeats, ZIL could be positioning for another major breakout, potentially targeting the $0.20+ region—a move of over 1,350% from current levels.
Technical Indicators Confirm Reversal Signals
The daily chart of ZIL/USDT on Binance has confirmed a breakout from a descending parallel channel that has held since late December 2024. The price has now closed above the channel’s resistance line, supported by increased volume and bullish momentum. ZIL was trading at $0.01293 as of writing, with a 2.08% gain in the last 24 hours and a 15.40% rise over the past week.
Technical levels are confirming this breakout. The MACD has produced a bullish crossover as the MACD line crossed above the signal line. The RSI has also increased to 64.65, an indicator of intensifying buying power and almost reaching overbought levels. This is supported by a bullish divergence established between late March and early April when price formed lower lows while RSI formed higher lows.
Short-Term Targets and Market Outlook
With the breakout confirmed, short-term targets for ZIL are between $0.015 and $0.017 and potentially 0.2+. These levels represent prior resistance zones and could be the next test for bulls if buying pressure holds. The pattern seen on the chart, combined with positive technical momentum, supports the outlook shared by JAVONMARKS.
While altcoins are staging a comeback, Zilliqa is drawing newfound attention on its repeated bull formation. Market players watch its next actions keenly as the breakout can mark the beginning of its next rally phase.
