During my time as a trader I became more and more interested on Crypto. Some of the first coins that caught my attention was XRP (Ripple), XLM (Stellar) and of course the biggest of them all BTC.
At that time new cryptos were popping out everyday which confused most of the people! I know a lot of people that even sold some of their properties to actually invest on different coins and after that the "unexpected" just happened, they all plunged super hard. Many of them panicked (reasonably when you invested your lifetime savings in something that you don't understand) and sold almost all of the coins they bought, losing almost 50% of their money. During these events I used my time to learn from others mistakes and check out most of the top coins so I can understand how they move and what is their background. Turned out some of them were unstable coins that were used to be "pumped and dumped" by unknown people, I even found some telegram groups that actually wrote when these events will happen.
So, just like this I switched my attention to some of the stable and more "safe" coins that actually seem like a good investment therefore I'll use this blog to share my reasons why.
What is Zilliqa?
First things first, Zilliqa is created and backed up by a group of people that actually know what they are doing. They're engineers, academics, entrepreneurs, investors and programmers. It's sharding application ensures that will not get overloaded when there is an increase in miners and applications ecosystem. They have their language Scilla which gives this coin a better security and what I like the most about this coin is that it is ECO-Friendly. How, you might ask! It's mining time is way shorter than others and only 1 minute from 2-3 hours is needed to actually mine a Zil. Pretty awesome if you ask me!
Zilliqa is another coin that can actually be Staked. If you are new to crypto you might ask what is staking...Let me know if I should write a post explaining that.
Anyways, there are a few exchanges that support staking Zil one of my favorite is Binance.
Moving further down with this post, as I hate super long posts where you got to scroll a lot to find what was mentioned on the title I'll be moving to my technical analysis on Zilliqa.
Note that this analyze was made back in 13th Dec.
As I've marked the Major Zones on the Weekly TF, we see that Zil found support on the previous resistance area of 0.0291 and now it is moving towards 0.0370 area. This zone was pretty aggressive if we watch how price reacted to it back in June. But as I drop to smaller timeframes I can confirm that price is giving good bullish signs.
Price found support on the minor but yet a key zone at the 0.032 area and from there I expect a bullish run that will break the resistance zone of 0.0370 and then move further high to 0.0494.
Now, 15th of December!
Time for update! Watching the charts we can see that Zil gave us 2 bullish candles on the daily TF, further on confirming our analyze; and that is just after it tapped on the zone we drew.
What I expect further is another reaction on the 0.0370 area or the best case scenario is a impulsive strong movement that will spear through that zone!
I'll keep you up with newer updates.
Let me know what do you think about this analyze and what would you like to see next in the comment section below!
See you on the next one!