Zignals appears to be on a downtrend after going on a bullish run. Now, the price has broken out of a ascending channel.
In this article, we will analyze the current price analysis, its weekly performance, its future outlook, and some of the latest news that may affect its value.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
Table of Contents
Zignaly Crypto Price Prediction
ZIG is currently trading at $0.058632 , with a market cap of $84.04 million and a 24-hour trading volume of $11.47 million . The crypto has a circulating supply of 1.43 billion tokens and a max supply of 1.98 billion tokens.
ZIG is currently ranked #392 among all cryptocurrencies by market capitalization, and is traded on several exchanges, including Bybit, Bitget, AscendEX (BitMax), Gate.io, and HTX.
The price has broken down the support trendline of the ascending channel. A downward movement is expected.
The current price is slightly below the high of $0.07387 . However, it is still significantly higher than the low of $0.004315 , which was recorded on 15 Jul 202.
Weekly Price Analysis
In the past week, ZIG has fluctuated between $0.043 and $0.066 , with an average price of $0.053 . ZIG started the week with a slight dip to $0.043 on 14 Feb 2024, but quickly recovered to $0.051 on 15 Feb 2024.
ZIG then surged to $0.066 USD on 16 Feb 2024, reaching its weekly high, after the Reserve Bank of Zimbabwe (RBZ) announced that Zimbabwe Gold , a digital token backed by gold, will be considered legal tender in the country.
The crypto maintained its momentum until 18 Feb 2024, when it dropped to $0.057 USD, following a market-wide correction that affected most cryptocurrencies. It then bounced back to $0.058 USD on 19 Feb 2024, and remained stable until 20 Feb 2024.
Future Outlook
- The growing popularity of the Zignaly platform, which has over 500,000 users and 150 veteran portfolio managers, and is recognized by Binance and Bybit as a top broker partner.
- The increasing demand for crypto wealth management services, especially from emerging markets and new investors who seek professional guidance and diversified portfolios.
- The innovative features and benefits , such as the Zignaly Vault, which allows users to earn passive income by staking crypto tokens in a secure and transparent way.
Conclusion
There has been a substantial influx of funds into cryptocurrency, which comes as no surprise. Particularly, there has been a significant surge in derivative speculation in the crypto market as market capitalizations have seen a notable increase over the last four months.
Positive sentiments are prevailing in the high time frame market, indicating readiness for a bullish trend.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
