- Zilliqa price has soared to the highest level since June 4th.
- Stacks has lagged the market as Bitcoin holds steady at $30,000.
- STX and ZIL prices will likely react to Bitcoin’s price action.
Stacks and Zilliqa prices have drifted upwards in the past few weeks even as Bitcoin has moved sideways. STX, the token for Stacks, rose to a high of $0.7457, the highest level since June 26th. Zilliqa price, on the other hand, jumped to $0.022, its highest point since June 5th.
Most cryptocurrencies are being driven by the rising greed in the industry now that Bitcoin has moved above $30,000. Historically, these coins have had a close correlation with BTC, the biggest coin in the world. Therefore, the next moves of ZIL and STX will depend on the Bitcoin price action.
Zilliqa price prediction
ZIL crashed to a low of $0.015 in June. Since then, the coin has made a spectacular comeback and is now trading at $0.023, the highest level since June 5th. It has risen by over 45% from the lowest point in June.
On the 4H chart, the coin has moved above the 23.6% Fibonacci Retracement level. It has also jumped above the 25-day and 50-day exponential moving averages (EMA). Oscillators like the Relative Strength Index (RSI) and the MACD have all drifted upwards.
Most importantly, Zilliqa price has formed what looks like a double-top pattern at $0.0226. In price action analysis, this pattern is usually a bearish signal. Therefore, more upside will only be confirmed if the coin moves above the double-top point.
If this happens, the next level to watch will be at $0.026, the 50% Fibonacci retracement point, which is about 15% above the current level. The stop-loss of this trade will be at $0.021.
Read more: How to buy Zilliqa.
Stacks price prediction
Stacks is a leading blockchain project that makes it possible for developers to build Bitcoin dApps. It has become a popular platform, helped by the growing traction of Bitcoin Ordinals, an NFT platform.
On the 4H chart, the STX price has jumped from a low of $0.5911 on June 30th. It has moved above the key resistance point at $0.677, the highest level on June 8th. The coin has jumped above the 50-period and 25-period moving averages. Its volume has remained quite strong.
Therefore, Stacks price will likely continue rising as buyers target the next level at $0.80. A move above this level will keep rising as buyers target the next point at $0.8500.
