Bybit Supports Zilliqa v0.21.6 Network Upgrade

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

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Upgrade Support Announcement: Bybit has announced its support for the Zilliqa v0.21.6 network upgrade, ensuring smooth deposits and withdrawals of ZIL during the transition, highlighting its commitment to user asset security.
Technical Coordination Management: The exchange will manage the technical changes required by the v0.21.6 release, relieving users from manual actions and reducing risks associated with node software updates.
Service Suspension Notification: Deposit and withdrawal services for ZIL may be temporarily suspended during the upgrade window, with exact timings depending on Bybit's official announcements, prompting users to stay informed to avoid inconvenience.
Industry Coordination Effect: Other major exchanges like Binance have also issued similar support announcements, indicating that coordination among major platforms is crucial for user fund safety during blockchain ecosystem transitions.

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Technical Analysis for ZIL

Technical Sentiment Analysis for Zilliqa (ZIL). As of , Zilliqa (ZIL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZIL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ZIL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Zilliqa (ZIL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00251	0.00273	0.00295	0.00317	0.00339	0.00361	0.00383
Fibonacci	0.00273	0.0029	0.003	0.00317	0.00334	0.00344	0.00361

About ZIL

Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.Development work officially started on Zilliqa in June 2017, and its testnet went live in March 2018. A little over a year later, in June 2019, the platform launched its mainnet.The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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