Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

What Bear Market? Zilliqa Rallies 116% On Agora Tie-Up

By Crypto BriefingCryptocurrencyMar 28, 2022 12:57AM ET
www.investing.com/analysis/what-bear-market-zilliqa-rallies-116-on-agora-tieup-200620934
What Bear Market? Zilliqa Rallies 116% On Agora Tie-Up
By Crypto Briefing   |  Mar 28, 2022 12:57AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Zilliqa’s ZIL token is soaring after the blockchain announced that Metapolis would be joining forces with Agora.

Key Takeaways

  • Zilliqa’s Metaverse as a Service platform Metapolis is teaming up with Agora.
  • Investors appear to have welcomed the partnership, helping ZIL rally.
  • Further buying pressure could see the token surge to $0.17 or even $0.26.

Zilliqa’s ZIL token has outperformed the rest of the market in the past 24 hours after the blockchain startup revealed a new partnership with the global talent awards app Agora.

Zilliqa Partners With Agora

Zilliqa is soaring, defying a months-long slump across the broader cryptocurrency market. The sharding pioneer’s ZIL token has more than doubled in the past 24 hours after scoring a key partnership for its upcoming Metaverse as a Service (MaaS) platform, Metapolis.

Slated to launch in April, the new platform has been touted as an immersive, gamified XR Metaverse experience. According to a Zilliqa blog post, it will allow “conceptually-rich and custom-designed domes as part of cities” to host brands, artists, concepts, games, e-stores, real estate or other digital experiences.

Metapolis has collected $2 million in pre-launch revenue and recently partnered with the global talent awards app Agora.

In a Friday press release, Sandra Helou, Head of Metaverse and NFTs at Zilliqa, said that the partnership would “bring not only creativity to life within the Metaverse but also open borderless access for creatives worldwide to connect in the digital world.” She added that the partnership between both companies would place them at the “forefront of Web3 innovation.”

Since the announcement, investors have shown optimism about the utility that Metapolis will bring to Zilliqa. ZIL’s market value skyrocketed by 116% shortly after the partnership was announced. It’s slightly cooled off since, trading at just under $0.12. That puts the project’s market cap at about $1.6 billion.

Overcoming Resistance

From a technical perspective, it appears that the Tom DeMark Sequential indicator anticipated the sudden upward price action. The technical index presented a buy signal on ZIL’s weekly chart, which, at time of writing, was getting validated. At closing, the token was looking at reaching above the 50-week moving average, potentially signaling further gains on the horizon.

Overcoming this significant hurdle could encourage sidelined investors to re-enter the market. Another spike in buying pressure could allow ZIL to breach the $0.12 resistance level and target $0.17 or even $0.26.

ZIL/USD Weekly Chart.
ZIL/USD Weekly Chart.

Source: TradingView

Still, a spike in profit-taking could push ZIL lower before it continues surging. Failing to close the above 50-week moving average could result in a brief pullback to the 100-week moving average at $0.072 or the $0.053 support level.

Original Post

What Bear Market? Zilliqa Rallies 116% On Agora Tie-Up
 

Related Articles

Crypto Briefing
Solana On The Verge Of Major Price Movement By Crypto Briefing - May 22, 2022

Solana has entered a consolidation period that could result in a major price movement.Key TakeawaysSolana is up by more than 40% from the $36.20 low hit on May 12. Still, the token...

What Bear Market? Zilliqa Rallies 116% On Agora Tie-Up

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email