ZIL’s value was up once more to the end of the week. Prices are trading close to 300% higher today than they were on Monday. The increase in value comes as markets gear up to the release of Zilliqa’s metaverse service platform called “Metapolis.” Many expect the official launch to come tomorrow, and anticipate it to be a game-changer in this space.
Zilliqa, ZIL
ZIL extended this week’s gains, climbing by as much as 14% today, taking its one-week price increase to over 300%.
Surges in the price of the Zilliqa token came as markets anticipated a new product launch that would adapt a metaverse-as-a-service model.
The bulls are now buying into this idea with ZIL/USD rising to an intraday peak of $0.2281 according to the news.
This represents the highest ZIL trades since May 10, last year. It also comes at a time when the 14-day RSI is still on the charts.
At the time of writing, the indicator was at 92.48. Although this is above the threshold of 70 for overbought, it doesn’t appear to have lost any momentum.
However, the age-old adage “what goes up must come down” rings true, despite current bulls likely to continue riding the wave.
AAVE
AAVE rose to a multi-month high during Friday’s session, as prices rebounded from a disappointing day of trading yesterday.
Following a low of around $205.16 to begin the day, AAVE/USD surged to a high of $246.52 during Friday’s session.
This represents the highest AAVE point since Jan 4, as it comes just 14 days after the RSI bounded at 69.05.
This price surge could push AAVE to its near-one-year high at 80. It may also coincide with another ceiling.
That ceiling could be the $270 mark, which AAVE hasn’t hit in almost four months, and likely to be a place where a reversal would likely occur.
You can see that several bullish run ended at the same point as the chart. If prices are to reach that level again, this may be the case.
Is AAVE able to reach $270 this weekend despite being too overbought? Please share your views with us in the comments.
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