After breaking out of a bullish flag and a month-long consolidation period, Zilliqa is primed for another leg up.
More Gains on Zilliqa’s Horizon
The 214% bull rally between Dec. 14 and Dec. 27 produced the pattern’s flagpole. Meanwhile, the coming down parallel channel that developed ever since formed the pattern’s flag.
A current spike in buying pressure enabled ZIL to slice through the flag’s upper trendline at $0.078, signifying a possible breakout.
If buy orders continue to pile up, Zilliqa’s market value could rise by nearly 70% towards $0.13. This target is determined by measuring the flagpole’s height and adding that distance to the breakout point.