Latest Zilliqa (ZIL) Price Analysis

Deep Dive

1. Cancun Upgrade Catalyst (Bullish Impact)

Overview:
The Cancun hard fork, set for mainnet activation this week, aims to improve Zilliqa’s communication speed and network control. This development was highlighted in a BeInCrypto analysis on February 2, 2026, just before the price surge.

What this means:
Network upgrades typically attract speculative capital due to anticipated efficiency gains. For ZIL, this could enhance validator participation and staker flexibility, potentially increasing token utility. The timing aligns with the 24h volume spike ($137M, up 965%), suggesting coordinated accumulation.

What to look out for:
Confirmation of the upgrade’s mainnet activation and on-chain metrics like staking participation rates post-launch.

2. Technical Breakout Amplification (Bullish Impact)

Overview:
ZIL broke out of a multi-week descending channel, bouncing from the $0.0039 support level. The RSI at 30.11 (oversold) and MACD histogram turning positive signaled exhaustion of selling pressure.

What this means:
Technical traders likely entered positions as the breakout confirmed, amplified by the upgrade catalyst. The 965% volume surge indicates strong conviction, with liquidations potentially squeezing shorts. Historically, ZIL rallies 100%+ after similar support tests.

What to look out for:
The $0.0045 resistance level – sustained trading above it would validate bullish momentum.

Conclusion

ZIL’s surge combines upgrade anticipation with a technical breakout, reflecting renewed confidence in its ecosystem. While the 24h move is extreme, its sustainability hinges on the Cancun upgrade’s successful delivery and whether spot volume persists above $100M.

Key watch: Can ZIL hold above $0.0045 after the Cancun activation, signaling continued demand?