Zilliqa is a public blockchain with no permissions that aims to provide high throughput by processing thousands of transactions per second.
Zilliqa is based on the sharding concept and promises to improve the scalability of cryptocurrency networks like Bitcoin and Ethereum. According to the white paper, transaction speeds would be 1,000 times faster than the Ethereum network. It uses the Sharding concept, which divides transactions into smaller chunks and distributes them among miners for parallel transactional verification. It’s a platform that’s decentralized, fast, and secure. Because Zilliqa has such a high throughput, you can focus on developing your ideas rather than worrying about network congestion, costly transaction costs, or security. Let us review the ZIL price
ZIL Price Prediction
Bullish Scenario: The price of ZIL has dropped over 70% from its all-time high of $0.230 this year. This decline follows a 400% increase in late March. ZIL might retrace back to support levels $0.07. After retracements, if ZIL manages to break above the resistance level at $0.1 then it would be bullish. Breaking above the $0.13 price level with significant buying volume will lead to a move towards $0.16 and above.
Bearish Scenario: Since last month, the price of ZIL has been declining, although it has remained at the critical support level of $.07. On a shorter time scale, the price is still under bearish pressure. So far, we don’t have a significant short-term bullish leaning. If the $0.07 support level holds, the price will drop to $0.05, $0.03, and even lower.
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