Zilliqa (ZIL) price prediction after current sell-off

Zilliqa ZIL/USD has weakened from $0.23  to $0.11 since April 01, 2022, and the current price stands at $0.12.

Scalable and secure platform for developers

Zilliqa is a scalable and secure platform for developers who want to build decentralized applications, and as blockchain technology evolves, its efforts are focused around streamlining the efficiency, trust, and transparency of Web 3.0.

Zilliqa is built entirely on a sharded architecture, and in order to limit attack exposure on the blockchain, its engineering team created Scilla, a programming language that guarantees the safety of smart contracts. The team of Zilliqa added:

Our research and development team changed blockchain with our sharding mechanism, creating a new paradigm for scalability. It has since become a foundational building block for sharding technology.

Scilla’s focus on safety gives both developers and end-users ways to build and use safer dApps. Scilla became the first peer-reviewed smart contract language to enter a production platform, and developers can launch smart contracts by using the programming language Scilla.

Zilliqa differs from Bitcoin because everything goes much quicker on this network, and by using the Zilliqa blockchain, users can also benefit from low transaction costs, a fast-growing ecosystem, and developer-friendly interfaces.

The ecosystem of this blockchain enables DeFi apps, including lending services, DEXes, stablecoins, and asset marketplaces. The popularity of Zilliqa is rising across the globe, and the projects that are building products and services on this fast-growing blockchain ecosystem vary from innovative startups to global enterprises.

ZIL is a native token for the Zilliqa blockchain that was built to enable and scale decentralized apps. ZIL can be used to interact with every dApp and platform service built on the Zilliqa blockchain, and it is important to say that users can secure the Zilliqa network by staking their ZIL tokens.

Zilliqa actively encourages more users to secure Zilliqa’s infrastructure, which is a great way to put your ZIL to use and earn rewards while contributing to the network.

ZIL remains under pressure

Zilliqa (ZIL) was a bad performer during the last several days, and technically looking, it still remains under pressure.

Data source: tradingview.com

The current support level stands at $0.10, and if the price falls below it, the next price target could be around $0.08 or even below.

The first resistance level stands at $0.15, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $0.20.

Summary

Zilliqa is a scalable and secure platform with low transaction costs, a fast-growing ecosystem, and developer-friendly interfaces. Zilliqa (ZIL) was a bad performer during the last several days, and technically looking, it still remains under pressure.

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