Yeliz Akmaca Zilliqa (ZIL) has gained significant momentum in the market following the long-awaited Cancun hard fork and the integration of the Ethereum Virtual Machine (EVM). Developers can now run Ethereum-based smart contracts more efficiently on the Zilliqa network, driving investor demand upward. Notably, recent 24-hour spikes in trading volume and recovery in technical indicators have emerged as the key drivers behind ZIL price surge. The main reasons for the rally can be summarized as:
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Network upgrades and EVM integration
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Trading volume and investor demand
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Market sentiment and technical indicators
Network Upgrades and the EVM Hard Fork
The Cancun hard fork, which brought EVM compatibility to Zilliqa, has been a critical catalyst. This upgrade improves transaction efficiency and smart contract compatibility, making the network more appealing to developers. Investor demand responded positively, creating buying pressure. Such infrastructure improvements not only encourage short-term speculative buying but also contribute to long-term value creation.
Notable Growth in Trading Volume
ZIL’s price surge is strongly supported by a 24-hour spike in trading volume, both in spot and derivatives markets (open interest). Investors are interpreting this as a sign of new long positions rather than just short covering. While many altcoins remain range-bound, ZIL’s sharp movement highlights the strength of its technical foundations.
Total open interest has risen to approximately $55.1 million, reflecting a ~922% intraday increase, indicating extraordinary long-position activity and strong price momentum. Additionally, the Zilliqa price chart shows a breakout from a falling wedge pattern, with prices climbing over $0.007, signaling a strong buying opportunity based on both volume and trend.
What Do Technical Indicators Show?
Market sentiment and technical signals are also playing a major role in ZIL’s momentum. RSI recovery and the breach of key moving averages show buyers gaining control. Positive trends on social media and on-chain metrics are reinforcing investor interest and buying pressure.
On the daily chart, $0.00610 acts as a key support. Maintaining a daily close above this level would indicate a structural shift and increase the likelihood of further upward movement. Meanwhile, in case of a pullback, the first support level to watch is $0.0044, where price may find its initial reaction.
Broader Market Context and Long-Term Perspective
Although the overall crypto market can sometimes pressure altcoins, ZIL’s rise is largely driven by project-specific catalysts. Even if Bitcoin and Ethereum trade sideways or under slight pressure, Zilliqa’s network developments and investor interest have independently supported its price action. These factors strengthen the project’s medium- and long-term potential.
ZIL’s recent rally is driven by a combination of EVM integration, trading volume spikes, and market sentiment. The surge reflects both short-term momentum and long-term technical and fundamental developments. Investors should monitor both fundamentals and technical activity when evaluating price movements.
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