The Zilliqa token’s price risks dumping to new lows as bearish sentiment strengthens, with the ZIL price performance contrasting sharply with that of top altcoins in the market.
As the bears wreak havoc on the layer-1 token, outperformers like Hyperliquid, which have posted double-digit gains over the past 24 hours, lead the uptick.
However, Bitcoin, Ethereum, and XRP are also all battling sell-off pressure below key price levels, to suggest widespread weakness.
What’s Zilliqa’s price today?
After struggling amid the broader market downturn, ZIL has broken lower, revisiting support levels around $.0048.
Bears have extended their hold over the past 24 hours and week, a scenario that sees bulls risk fresh mauling.
Notably, downside pressure has increased since Binance delisted some ZIL trading pairs.
Zilliqa eyes key upgrades
The latest update from the Zilliqa team notes that the project is gearing up for a crucial hardfork. As announced on Jan. 27, the upgrade aims to enhance Zilliqa’s scalability and smart contract efficiency.
Zilliqa Tech Updates ⚙️
Critical network upgrades are landing – enabling Cancun, delivering faster communication, and finer-grained control.
Hardfork Incoming
✅Testnet: Live
⏳Mainnet: Block 19,486,411 (~Feb 5, 2026)
Validators: please update your nodes before these block
The hard fork builds on Zilliqa 2.0, an upgrade that added Ethereum compatibility and enterprise tools to attract developers.
But the team went quiet for a while, and now claims to have had time to understand what they need to do better.
“After launching Zilliqa 2.0, we deliberately paused to gain clarity – on focus, on strategy, and on where we create real value in a more regulated, institutional world,” the L1 noted.
The incoming hardfork is already in testnet, and the mainnet is expected to go live at block 19,486,411 on February 5, 2026. Zilliqa has urged validators to update their nodes ahead of activation.
When the update does go live, new network features will include the unlocking of new opcodes for Cancun-compatible EVM. There’s also QUIC-based networking and granular RPC rate limiting.
Zilliqa price forecast
Can the upgrades rekindle upside momentum for ZIL?
The token showed a sharp downward reaction amid recent delisting news, specifically Binance’s removal of key trading pairs.
Liquidity erosion has decimated trading volumes, which were down 22% at the time of writing on Tuesday.
From a technical perspective, ZIL continues to bleed after breaking down from a rising wedge.
The pattern highlights a bearish reversal picture, which has allowed sellers to push prices below key moving averages.
Other indicators, such as the relative strength index and moving average convergence divergence, are bearish on the daily chart.
RSI trends below the neutral point and suggests a downsloping outlook, while the MACD displays a bearish crossover. The histogram, however, signals a slight slowdown in negative momentum.
While buyers have shown resilience around $0.0048, weak attempts at defending the area could embolden bears.
The immediate support levels are around $0.0045 and $0.0042.
On the upside, bulls will have the opportunity to reclaim key zones around $0.0065-$0.0076. Upticks into the supply wall marked by the wedge could attract selling.
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