ZCoin has been performing very well lately against the Bitcoin and managed to grow from BTC 0.002 up to 0.016 in just 3 weeks. This is an amazing growth of 500% in a very short period of time.
However, it seems that ZCoin uptrend could be getting to an end very soon. Fibonacci applied to the corrective wave down after the downtrend trendline breakout shows that price got very close to the 427.2% retracement level at BTC 0.012, but failed to test it. This remains the key upside target for the XZC/BTC in the medium to short term.
At the same time, the support area between btc 0.0066 and 0.0073 should be watched. Break below could establish a consolidation or even a strong correction down. But while it is holding the upside target at btc 0.012 remains valid. Perhaps its better to stay neutral on Zcoin and see the price action near the support, uptrend trendline and 200 Moving Average.
However, it seems that ZCoin uptrend could be getting to an end very soon. Fibonacci applied to the corrective wave down after the downtrend trendline breakout shows that price got very close to the 427.2% retracement level at BTC 0.012, but failed to test it. This remains the key upside target for the XZC/BTC in the medium to short term.
At the same time, the support area between btc 0.0066 and 0.0073 should be watched. Break below could establish a consolidation or even a strong correction down. But while it is holding the upside target at btc 0.012 remains valid. Perhaps its better to stay neutral on Zcoin and see the price action near the support, uptrend trendline and 200 Moving Average.
Comment:
Now expecting it to move higher
Comment:
seems range trading is over