ZIL Skyrockets in the Last 24 Hours Following Fed Interest Rate Hike

ZIL Skyrockets in the Last 24 Hours Following Fed Interest Rate Hike

• Zilliqa (ZIL) saw a big price surge of 29.08% over the last 24 hours.
• ZIL’s price currently stands at $0.09014 after its big climb.
• Since its meteoric climb, ZIL has retraced slightly.

Zilliqa (ZIL) saw a big price surge of 29.08% over the last 24 hours, and has made it into CoinMarketCap’s top 100 coins in terms of market cap. ZIL currently occupies the 72nd position which places it right behind Chiliz (CHZ) in the 71st position and in front of Celo (CELO) in the 73rd position.

ZIL’s price currently stands at $0.09014 after its big climb in the last 24 hours and its highest price during this time period was $0.09776. ZIL’s current price thus translates to around 0.000002284 BTC or 0.00003083 ETH.

When looking at market cap, ZIL currently stands at $1,148,517,475 which is a 28.82% increase. The current amount of ZIL in circulation is 12,739,563,510 ZIL, according to CoinMarketCap.

20 and 50 EMA touch on daily chart (Source: TradingView)

Looking at the daily chart for ZIL/USDT, the 20 and 50 EMA are touching. It looks like the 20 EMA wanted to cross below the 50 EMA but the attempt was foiled as the price surged in the last 24 hours.

Since the price surge, it seems that the price of ZIL has retracted slightly as traders take profit. Prices in the crypto market surged following the U.S. Fed’s announcement that they will be incrementing the interest rate by 50 basis points, or 0.5%. We could see the price fall further as more people cash out their profit following the event.

RSI 14 also seems to divert temporarily from its trajectory towards overbought territory after the slight price retracement, which suggests that the coin will be sold more today.

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