ZRX- TECHNICALS ARE BULLISH - Altcoin TAHey there,
Please support this post with consistent likes and make sure you follow me on TV if you don't want to miss out!
So this is a bit different that what I ususally do. Normaly I don't post any charts of smaller cap altcoins and only
refer to the bigger ones, such as Litecoin and Ethereum.
Nonetheless, ZRX price movements look quite promising and have a strong bullish bias.
As you can see on the chart, we have consistent higher lows on the weekly timeframe and are forming a
horizontal resistance line at the the top at $0.37. It already looks much like an ascending triangle, which
is a pattern which I trade often and like the most for bullish action.
The moving averages aren't looking too significant on this chart since they are mostly moving through price
on the daily timeframe.
Also there is a critical support area down below at 0.156$ which definitely has to hold, if ZRX wants to see
growth over the next altcoin cycle.
That is actually the main point here. Will we see another altcoin-cycle or are all smaller cap altcoins doomed
for eternity? Well of course Bitcoin needs to be in an uptrend for ZRX to move higher, but since this is a
clear bullish structure for now, I think it will be a cleaner and stronger play, if the next altcoin cycle arrives!
So far so good!
Cheers,
Konrad
