Zilliqa price has posted double-digit gains overnight as the project joins the Blockchain Game Alliance. Analysts believe Zilliqa’s pullback could be followed by a trend reversal.
Zilliqa price is on track to recover with massive updates in the blockchain network. Proponents have identified two key reasons for a Zilliqa price rally. The first is Valkyrie Investments, an alternative asset management firm, announced the launch of a new trust that includes Zilliqa and layer-1 cryptocurrencies like Avalanche, Binance Coun, Terra and MATIC.
Valkyrie now covers and tracks the value of a basket of cryptocurrencies, and the move has fueled a bullish sentiment among investors.
The second reason is Zilliqa’s recent entry into the Blockchain Game Alliance (BGA). Zilliqa is set to define the future for blockchain-based gaming. Zilliqa’s e-sports partnerships and network of gaming veterans could drive the utility and adoption of the token higher.
We've officially joined the Blockchain Game Alliance (BGA)! Zilliqa now has a hand in defining the future for blockchain-based gaming — with the support of our passionate #Zilliqans, esports partners, and growing team of gaming veterans!https://t.co/ahM5xABUeH pic.twitter.com/A8OzfWXqua
In December 2021, Zilliqa announced its entry into the metaverse with some of the best game development tools. This update fueled a positive sentiment among holders and investors of Zilliqa and fueled a price rally in the altcoin.
Analysts have evaluated the Zilliqa price trend and predicted a rally. @DebayaSen_, a leading crypto analyst, believes Zilliqa fundamentals are good, and the cryptocurrency could witness a spike post the recent pullback. Zilliqa corrected 10% from its high and is ready to resume its uptrend.
$ZIL fundamentals are good enough and it will see an upmove with time but in order to become a successful trader one has to understand why it corrected 17% from highs yesterday which gave a suitable opportunity to short.#cryptocurrecy #Zilliqa #zilusdt pic.twitter.com/yccDCuB1pm
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Bitcoin price shows an interesting move to the downside to purge the sell-side liquidity before heading up to $46,200. Investors can expect BTC to stabilize between $40,100 to $40,500 and trigger a run-up to yearly open.
Cardano price has been on a downtrend since it created a local top on March 28. Efforts to rally higher failed and ADA is now retracing lower, in search of stable support levels. ADA price has suffered a fatal setback.
Polkadot price hints at bearish power, as the price has failed to close above the invalidation level. DOT price has interesting signals as the bulls not have breached this week’s invalidation level. Invalidation of the bearish thesis is a break at $19.45.
Algorand could take more time than hoped for as the bulls have failed to breakout. Traders should consider looking for better opportunities in the market. Algorand price looks like it could take a lot more time before a directional trend is confirmed.
BTC is positioned at a level that is likely to result in a quick run-up to key levels. The on-chain metrics are also suggesting the possibility of a spike in buying pressure that could trigger a full-blown bull run if certain hurdles are overcome.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.