Zilliqa (ZIL) Bullish Divergence
Zilliqa (ZIL) appears to be starting a strong bull run. While generally, altcoins follow Bitcoin, they don’t always follow Bitcoin to the letter.
The details: Sometimes, Bitcoin may make an all-time high, but the altcoins may not be anywhere near their all-time high. However, the opposite can happen as well, where one or more altcoins experience a huge bull run without Bitcoin. This may be the case with ZIL currently.
ZIL Bullish Divergence
Zilliqa has experienced such a bullish divergence before, in April 2022. At that time, Bitcoin reached $47,000, which is way below its all-time high of $70,000. However, ZIL came very close to its all-time high, being only 9% below it.
Overall, Bitcoin’s rally was about 45% from the low of the rally to the high, while on the other hand, ZIL made a 600% rally. While this is a drastic difference, it does not mean that ZIL’s current rally will also consist of 600% profit; this depends on many factors. However, it will likely be significantly bigger than Bitcoin’s rally.
Currently, Bitcoin is still below its December rally, while ZIL is more than 15% above it, showcasing that the bullish divergence has commenced.
If ZIL continues its rally, the first Resistance level will comes around $0.03, while the second Resistance level comes around $0.05. These levels are 15% and 90% away from the current price.
The second resistance level will therefore be an excellent place to take out some of your profits.
Bottom Line: ZIL is currently experiencing a bullish divergence by increasing faster than Bitcoin. However, we don’t know how strong the rally will be; therefore, exiting at multiple points might be the best answer.
