Zilliqa ($ZIL ) posted a strong bullish candle, gaining over 25% in a single session, catching attention after weeks of downtrend pressure. Let’s analyze whether this move has legs — or if it’s just a temporary bounce.
🔍 Why Did ZIL Pump?
1️⃣ Bounce From Major Support
Price defended the $0.0039–$0.0040 zone
This area acted as a historical demand zone
Sellers exhausted → buyers stepped in aggressively
2️⃣ Volume Confirmation
Daily volume surged sharply (1.6B+ ZIL)
Confirms the move wasn’t random or low-liquidity noise
Indicates short covering + fresh spot buying
3️⃣ Narrative Rotation
Renewed interest in Layer-1 / PoW coins
Oversold assets often attract speculative capital during rotation phases
📊 Technical Breakdown
Support Zone: $0.0040 – $0.0043
Current Price: ~$0.0050
Resistance Zone: $0.0056 – $0.0060
Trend: Short-term relief rally inside a larger downtrend
📉 Price is still below major moving averages — trend reversal not confirmed yet.
⚠️ Risk Factors to Watch
Prior trend is bearish
Resistance overhead is heavy
Failure to hold $0.0048 could invite another retest of lows
Late entries near resistance carry high risk-to-reward imbalance.
🧠 Trading Perspective
✔️ Aggressive traders: wait for pullback & base
✔️ Conservative traders: wait for daily close above resistance
✔️ Investors: trend confirmation matters more than one green candle
Big green candles excite — structure protects capital.
