To begin with, the digital asset of Zilliqa has had a meteoritic rise this month gaining value by almost 400%.
Secondly, Zilliqa is diving deep into the Metaverse with the launch of Metapolis.
The latter is a Metaverse-as-a-service (MaaS) platform that will be launched on April 2nd during a VIP event in Miami, Florida.
Furthermore, Metapolis has already gathered interest from major creator-focused and eSports brands. The project has also gathered over $2 million in pre-launch revenues.
To note is that the Metapolis launch event is roughly 48 hours away. Therefore, consulting the daily ZIL/USDT chart is recommended to gauge if ZIL’s bullish momentum will be maintained before, during, and after the event on April 2nd.
From the daily ZIL/USDT chart, it can be observed that the price of Zilliqa has taken a parabolic trajectory. Furthermore, its price has very much deviated above the 50-day (white), 100-day (yellow) and 200-day (green) moving averages, pointing towards a possible pullback in the next few days.
Additionally, ZIL’s daily MFI, MACD and RSI are in overbought territory further providing hints of a possible retracement.
Consequently, caution is advised when going long on Zilliqa (ZIL) on the various leverage trading platforms. A wait-and-see approach, till after the Metapolis launch, could also be an option for anyone who did not catch the ride up.
[Feature image courtesy of Zilliqa on Twitter]
