- ZIL shows a year-long bullish divergence on the MACD, with price making lower lows while momentum steadily posts higher lows.
- Technical analysis indicates ZIL respects an ascending support trendline, forming a possible quadruple bottom with conservative targets set near $0.038.
- Exchange data shows bullish long-short ratios, with Binance traders holding more than twice as many long positions compared to short positions.
Zilliqa (ZIL) is presenting a bullish divergence on its weekly chart, with price and momentum indicators pointing toward a potential reversal.
MACD Divergence Suggests Momentum Shift
Analyst JAVONMARKS noted a large bullish divergence on the MACD, with price recording lower lows while momentum prints higher lows. This formation is often regarded as an early indicator of weakening bearish strength. The divergence has been forming for over a year, giving the setup further weight for long-term traders monitoring the altcoin.
At the same time, ZIL continues to respect an ascending support trendline. This has created what some traders interpret as a quadruple bottom structure, a rare pattern that frequently leads to breakouts when paired with momentum shifts. As the MACD begins to tilt upward, market watchers are paying attention to recovery levels that would be tested if buying pressure is established.
The more conservative target set by analysts points toward $0.038, which is a more than 240% gain from the current price level. That target aligns with a previous resistance area, suggesting it could become the first major barrier in a possible rally.
Long-Term Projections Point Toward Larger Moves
Beyond the conservative view, projections suggest that Zilliqa could extend its rally to revisit its 2021 peak. JAVONMARKS stated that a recovery toward $0.15 remains possible if market conditions align.This action would represent gains of more than 1,100% from the current market levels of Zilliqa.
The logic behind this long-term target is rooted in the historical behavior of altcoins in bullish market cycles. Previous market rallies have seen deeply oversold projects climb multiple times in value once sentiment improves. In this case, the extended bullish divergence on the MACD provides a technical argument for sustained upside momentum.
Although ambitious, this outlook is not unprecedented, as similar percentage recoveries have been recorded during earlier altcoin surges. The presence of technical foundations combined with cyclical market behavior makes the $0.15 level a point of interest for traders.
Market Data Shows Bullish Positioning
ZIL is currently priced at $0.01114, with a 24-hour trading volume of $17.7 million. The asset has gained 6.7% in the last day and 5.96% across the past week, reflecting modest accumulation.
Exchange long and short data also reveal stronger positioning on the bullish side. On Binance, over twice as many accounts are long, with top traders showing a 2.54 ratio. However, their position sizes remain more conservative, with a 1.38 reading, indicating optimism tempered by caution.
OKX displays milder optimism with a 1.13 ratio, suggesting traders there remain more careful. Overall, the aggregated data reflects optimism for a breakout, though high long ratios could create volatility or brief corrections before a longer move establishes itself.
