Dutch cryptocurrencies analyst and trader Michael van de Poppe (@CryptoMichNL) explained why Zilliqa's splendid run is significant for the altcoins trader and what we can learn from it.
Ten Months for Accumulation
According to Mr. van de Poppe, Zilliqa (ZIL) can be studied as a textbook example of 'what accumulation and momentum can do with coin'. He is sure that the 10-month accumulation period with a plethora of lucrative 'buy' opportunities was ignored by the community.
When the price started its splendid growth, public interest in buying ZIL evolved rapidly. As a result, the vast majority of Zilliqa (ZIL) token holders bought the token overpriced.
This situation is not unique for the modern altcoins market. Mr. van de Poppe admits that several other coins may pump to follow Zilliqa (ZIL).
So, the traders should search for better opportunities to buy altcoins before they becomes overhyped.
Rally Must Go On
Even for Zilliqa (ZIL), the bullish run for the altcoin may be nowhere near its end. According to Mr. van de Poppe's posted chart tweet, ZIL's performance looks amazing.
Mr. van de Poppe particularly emphasized the zone between 158 and 165 satoshis as the crucial resistance level. The fact that the price of ZIL would break above this level comfortably would act as a good indicator of continued growth.
Zilliqa (ZIL) is a project of researchers from National University of Singapore. It built a high-speed and extremely secure blockchain, which was in mainnet in 2019.
Zilliqa (ZIL) was among the first protocols to implement sharding. This feature allows this blockchain to be extremely scalable.