Zilliqa, the price rises by 8%
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Zilliqa, the price rises by 8%

By Federico Izzi - 31 Jul 2019

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Today the price of Zilliqa rises, benefiting from the announcement of the integration with Chainlink through the Oracle network, as part of an agreement that connects smart contracts via an integrated ecosystem between these networks.

zilliqa price
Search: https://it.tradingview.com/symbols/ZILUSD/

Investors reward Zilliqa with a price that rises 8% and returns above 11 thousandths of a dollar. Zilliqa springs from a deep downward trend which, from the highs of 2019 reached in mid-June, to the lows reached in mid-July, saw prices sink by more than 65% in less than a month. With this news, Zilliqa is trying to regain its confidence, in an attempt to bring its prices back up from the lows of mid-July.

The rest of the cryptocurrency sector continues to feature a ping-pong game between buyers and sellers, between bears and bulls. A prevalence of green signs dominates the day for over 75% of the cryptocurrencies. 

Looking at the first 20, only one red sign emerges, that of the LEO token, which drops by 2% and returns to test 1.30 dollars. Among the best rises in the top 20, there is Tezos (XTZ) which rises 25% from yesterday’s levels, followed at a considerable distance by Cosmos which rises 5%, attempting to recover the threshold of 4 dollars. Bitcoin Cash (BCH) also rose by 5% and recovered $325.

zilliqa price
Search: https://coin360.com/

Bitcoin also performs well, managing to keep the threshold of $9,500, after yesterday’s sinking below this level. This morning BTC returns above $9,700. 

Ethereum also continues its efforts to consolidate above $210.

Ripple, third in the standings, despite the difficulties, seems increasingly focused on stabilising at over 30 cents.

A positive day for Litecoin as well, just a few days before the halving. LTC, which has suffered a sinking of 50% in recent weeks, now tries to stabilise above 90 dollars. If this threshold were confirmed in the next few days, it would project prices towards the threshold of 100 dollars.

Among the most evident rises of the day emerges Japan Content Token (JCT) that now is characterised by strong fluctuations and today returns to rise by 25%, second only to Tezos. 

In contrast, the day’s declines see a loss of more than 10% for Lambda (LAMB), in 64th position and $105 million of capitalisation. Followed by Ren (REN) who retraces about 5%. 

Volumes in the last 24 hours have fallen to the lowest levels in July. Yesterday ended with the second-lowest trading volumes of the month and a drop of 30%, with a total volume just over 55 billion dollars, far from the 150 billion dollars traded at the end of June. This shows that the current period attracts little attention from investors.

The market cap returns to $270 billion. Bitcoin remains at 64.5% dominance. Ethereum (8.5%) and Ripple also remain unchanged, with the latter trying to stabilise above 5% market share, a threshold recovered during the last week.

Last week, the weekly balance was again affected by a prevalence of positive signs with reference to last Wednesday’s levels.

zilliqa price
Search: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

Bitcoin in these last hours breaks the bearish structure of the last 10 days pushing over 9,700 dollars. A first positive sign of a possible reversal would be a price of over $10,000. 

Otherwise, a return below 9,500 would cancel this recent reversal by bitcoin and attract the risk of downward speculation that could push prices below the lows of recent days in the $9,200 area.

A movement extending beyond $9,200 might cause a dangerous downward trend. 

zilliqa price
Search: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

Ethereum maintains the lateral configuration. Prices seem to be looking for a consolidation in the $205 area, which would be confirmed by the return to $225, or, even better, with an extension beyond $235.

On the contrary, a break of the 205 dollars, which coincides with the bullish trendline traced from the beginning of February, would begin to give bearish indications even in view of the bi-monthly cycle reached at the closing level. 

zilliqa price
Search: https://it.tradingview.com/symbols/EOSUSD/

EOS 

EOS benefits from the official launch of the EOSfinex decentralised exchange with a daily increase of more than 2%. The platform supported by Bitfinex was launched after four months of testing. Following the announcement, prices return above the $4.20 threshold. It is necessary for EOS to go beyond the highs of last week’s Saturday, July 27th at $4.7 to aspire to the recovery of July highs in the $6 area.

For EOS it is necessary not to return below 3.5 dollars, otherwise, the next step down would see the target in the $2.7 area. A pushover 4 dollars above the maximums of recent days would see the first target area at 6 dollars and the next one at 7 dollars. 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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