Zcoin: Key Level to Watch For Buys

Zcoin has been in a correction for a while and since it broke below 0.0073, it looks like we might see a bigger correction developing. Willing to highlight a key level where we should expect the correction to end I use fibonacci and previous structure. At the 0.786 fib retracement level of previous impulse we clearly see looking left that 0.0042 is a significant level where price found previously good resistance. Most likely sellers will flip to buyers adding great support at the level.

Watch for price retracing at 0.0042 and watch for a buy setup completion. Sl should be placed below 0.0015 and tp should be placed at previous impulse's high at around 0.0120

All the best,
John