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Zilliqa (ZIL) Rockets Ahead With 10.93% Jump and 24.15% Surge

• Zilliqa (ZIL) has seen an impressive 10.93% jump and a 24.15% surge in the past few days.
• The 20 day, 50 day and 100 day EMAs are arranged in ascending order; the shorter duration of EMA is above its longer-term counterparts.
• The RSI is currently in oversold territory at 80.44 and the MACD is in a bullish crossover position.

Zilliqa (ZIL) has been making gains in recent days, with the price closing six consecutive green daily candles and a 10.93% jump while retesting the 20-day EMA. This impressive performance was followed by an even more impressive 24.15% surge that demolished both the 20-day and 50-day EMAs. Prices have continued to climb today, with an additional 18.67% increase thus far.

Analyzing the current trends, we can see that a bullish sentiment is being established across the short, medium, and long-term. To further reinforce this sentiment, the 20 day, 50 day and 100 day EMAs must arrange themselves in ascending order; the shorter duration of EMA is currently above its longer-term counterparts.

The Relative Strength Index (RSI) is currently in oversold territory at 80.44. Given the parabolic rise of the past two days, traders must anticipate a possible retracement and a period of consolidation before prices can increase further. The Moving Average Convergence Divergence (MACD) is in a bullish crossover position with the MACD line breaking out from the zero line thanks to the recent upward trend. Observing the histogram reveals that the MACD is healthy with a steady and gradual increase.

All these indicators suggest that Zilliqa is likely to continue its impressive performance in the coming days, with prices possibly reaching a new all-time high very soon. With these developments in mind, it will be interesting to see how high ZIL’s price can go.