After reaching an all-time high in early April, Zilliqa (ZIL) has plunged sharply as investors lock in profits. The coin remains vulnerable to further downside. More on that below, but first the key takeaways.
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ZIL has fallen below its critical demand zone between $0.097 and $0.121
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The coin is now firmly in a downtrend, though the pace of decline has been gradual
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If the mentioned demand zone is not reclaimed, ZIL could fall another 45%
Data source: TradingView
Zilliqa (ZIL) – Downside risks to watch
March was Zilliqa’s standout month. The coin surged more than 500%, outperforming many larger market peers by a wide margin. ZIL reached its all-time high on April 1, trading around $0.230.
Following that meteoric run, a significant correction was inevitable. As investors began taking profits, the coin dropped sharply. ZIL has since retraced substantially from its peak. Crucially, the token has slipped below an important demand zone in the $0.097–$0.121 range.
Dropping under this area signals notable weakness, and ZIL is currently trending downward. If the price fails to reclaim the demand zone, selling pressure is likely to intensify. In such a scenario, ZIL could decline as much as 50% before finding meaningful support and renewed buying interest.
Is Zilliqa’s rally already over?
Yes — the strong bullish run posted in March and early April appears to be over for now. We do not expect ZIL to retest its all-time high in the near term.
Instead, ZIL is likely to remain in a downtrend over the coming weeks. A potential bottom could form near $0.05, a level closer to where the coin traded before the March rally. The correction many anticipated has arrived, and market participants should exercise caution until the price shows clear signs of recovery.