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Zilliqa (ZIL), is in danger of a 45% plunge

is . After hitting an all-time high in April, Zilliqa ZIL ) dropped sharply as investors continue their pursuit of profit from the meteoric rise. However, the coin is still vulnerable to further downside. This will be covered in more detail later, but for now, these are the main takeaways. ZIL has slipped below its…

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After hitting an all-time high in April, Zilliqa ZIL ) dropped sharply as investors continue their pursuit of profit from the meteoric rise. However, the coin is still vulnerable to further downside. This will be covered in more detail later, but for now, these are the main takeaways.

  • ZIL has slipped below its crucial demand range between $0.097 and $0.121.

  • The coin is currently on a bearish trend, with very little upward momentum.

  • Failure to regain the demand range mentioned above will lead to a 45% decline.

Data Source: Tradingview

Zilliqa (ZIL) – The downside risk to note

March was Zilliqa’s best month. The coin managed to surge by over 500%, outperforming all other major coins in the market by a huge margin. ZIL actually reached its all-time peak on April 1. It traded at $0. 230 at the time.

But after such a rapid rise, an epic correction was necessary. The coin plummeted sharply as investors began to take their gains. At the moment, ZIL has lost nearly 150% of its ATH. Crucially, the coin has slipped below an important demand zone ranging from $0.097 and $0.121.

This is a sign that ZIL is in serious trouble and ZIL is currently bearish. The price action could weaken further if the coin does not regain the demand zone. In fact, ZIL could nose dive by another 50% before it finds any demand.

Was Zilliqa’s bull overtaken?

Yes, the bull run ZIL reported in March/April is over. We don’t expect the coin will retest its ATH any time soon.

ZIL will continue to be bearish over the next few weeks. The coin could drop to $0. 05, roughly closer to where it was before the March bull run. We all expect the correction to be complete.

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