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Zilliqa

Shill the ZilPlease feel free to comment or challenge me on my TA. If you like my idea, please leave a like to show support. -------------------------------------------------------------------- Zilliqa has seen a very nice bullrun over the past month. It played out beautifully with retracements whenever it was necessary. After a 300% increase since the beginning of May it is healthy to see a significant correction come into play. Zilliqa however is a qualitative project with great upside potential. This is why I feel this correction is welcome as it gives us the opportunity to either buy some more ZIL at a cheap price, or to catch a nice trade with high R/R. What can the chart tell the bulls : - Elliot wave correction has been fullfilled - Higher lows have been set (yellow circles) - Double bottom formation What can the chart tell the bears : - Yet to set a higher high - Bearish divergence with the RSI - Weekly resistance level at 214 sats Trade opportunity: Possible entries: Weekly R (214 sats) or Daily S (206 sats) Targets: Daily R (229 sats) = 7% and Weekly R (286 sats) = 33% Happy trading!
Long
by Coinathlon
9
ZIL/USD- Where to from here? ZIL is seeing some support come in to play over the last couple of days however continues it's downtrend channel. Next 24 hrs will either see a break from trend on current supports shoulders, or a rejection down to a lower support which should bring buyers to the market. I think the if you picked this up on the dip two days ago you are in a good position but we may be given PA similar to that price again in the next few days if rejected by previous support line. Still bullish long term on this project but always looking for the best possible buy price to minimise risk. The other entry option on the break of trend carries higher risk, I'd be more inclined to buy a positive retest after breakout or hold fast until I'm happy with a supported entry at the bottom of channel (closer to 200SMA) As always, not financial advice, just my thoughts and TA. Bingaz
BINANCE:ZILUSD
by Bingaz
2
A healthy retracement during the correctionExpecting the price to reach between the 0.5 and 0.618 fib retracement levels around 230/237sats where we could see the price turn around to continue to follow the down trend of the correction. This could happen sooner considering the RSI on the 1hr is already close to the overbought zone. Wouldn't be making any long trades in this area unless we break above the descending channel and push through the 0.618 retracement. Don't listen to all the people on youtube and telegram telling you that we're going to moon because the last time we had a bounce to the upside, everyone was screaming about their dreams of 3 cents being fulfilled once again. Don't buy tops! Anyway, be careful with this one, I'm personally waiting for a test of the 150-160 sat region to see if the positive momentum holds.
Short
by filipbronola