A 39th-ranked Altcoin Outshines Bitcoin With a 950% Surge Since the March Price Crash

Bitcoin which is ranked at the top by its market capitalization has been beaten up by a 39th ranked altcoin Zilliqa (ZIL) which has recorded a massive price growth since the month of March when the whole crypto market faced a severe price crash. Zilliqa coin has gained a total of 950% since the March price crash which is comparatively more than that of the leading digital asset Bitcoin.

ZIL rallied from $0.0022 to $0.02

When the price crash occurred in mid-March, the entire cryptocurrency market suffered from big losses. Though the price crash was disastrous for top digital coin Bitcoin because it went down as low as $4k, the Zilliqa could not escape the crash as well. The price of ZIL even hit its bottom at $0.0022 which was the lowest value for the coin at that time.

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It was difficult for ZIL to recover the loss. However, the coin has recovered massively in the previous months by showing a strong bullish rally of 950%. Zilliqa (ZIL) price rallied from the $0.0022 level to the $0.02 where it is currently residing.

Where Zilliqa stand now?

Though Zilliqa has been outperforming till now, it has now entered into a critical zone where it is currently facing a strong resistance which is halting the coin from making a move further in the upward direction. This means that the ZIL price has got stuck in this resistance zone.

The resistance lies in the range between $0.022 and $0.025 which seems to have put an end to the previous bullish rally of the coin. To start a new rally like the previous one, the Zilliqa coin needs to come out of this area with the help of bulls. The key support levels for the coin are $0.012, and $0.015.

Both Zilliqa and Bitcoin can be found to be struggling at the moment. Zilliqa is looking for a way to pass through the resistance area where it is trapped at the moment while Bitcoin is trying to reclaim the $10K level.