Ziliqa is a public ‘blockchain’ designed to offer high ‘throughput’ with the ability to complete thousands of transactions per second. It also aims to solve the problem of ‘blockchain’ scalability and speed.
Prateek Saxena is the founder of Ziliqa who is also an assistant professor at the National University of Singapore School of Computing.
Sexana was also assisted by several students at the university in outlining how a ‘blockchain’ that focuses on ‘sharding’ can improve the efficiency and speed of the network.
The Ziliqa Token (ZIL) is also developed to process transactions on the network and execute smart contracts.
ZIL development officially started in June 2017 before broadcasting testnet live in March 2018. Entering June 2019, Ziliqa has launched mainnet on their platform.
Looking at the ZIL/USDT chart, the ZIL price movement has jumped by 366% this year before declining back to the opening level of the 2021 market around the $ 0.06- $ 0.07 price level.
However, after the ZIL price reached the support level of $ 0.06- $ 0.07, the price jumped above 100% at the end of May and resumed early June trading before declining again to trade at the RBS (resistance become support) level around $ 0.10.
Looking at the daily chart, the price is displaying a movement in a bullish trend that is making HL (Higher Low).
If the possibility of the movement is valid, then the expected price movement may re -test the SBR zone (support become resistance) around the price of $ 0.15 for the latest HH (Higher High) making price.
For the bulls to manage to jump higher, the ZIL price is expected to test the next SBR zone around $ 0.20 before returning to the all -time high (ATH) around $ 0.25.
However, if the price movement does not manage to maintain the bullish trend, then the price movement is expected to make a decline to the support level of $ 0.06- $ 0.07 again.
And if the price of ZIL does not gain positive sentiment to move the price, it is not impossible that the price of ZIL will make a lower decline.
As of 5.00pm local time, the ZIL price is down 5% to trade above the RBS zone around $ 0.11.
