Following the previous idea on Zcoin, it has reached the upside target and moved higher. This indicates that Zcoin is not done yet, and definitely has the potential to move even higher.
Yesterday it has rejected our previous upside target which this time is acting as a support. This is the 327.2% Fibonacci retracement applied to the corrective wave after the downtrend trendline breakout.
Clean rejection of the $29 support, which is actually a $30 strong psychological resistance, was followed by a sharp move up and currently, XZC/USD is trading already at $37.
The very strong resistance is seen at $53, where two different Fibonacci retracement levels meet with each other. First is 327.2% and second is 727.2%. This indicates a potential upside target for the current wave and if it will be broken, no one knows how far it can go further.
Yesterday it has rejected our previous upside target which this time is acting as a support. This is the 327.2% Fibonacci retracement applied to the corrective wave after the downtrend trendline breakout.
Clean rejection of the $29 support, which is actually a $30 strong psychological resistance, was followed by a sharp move up and currently, XZC/USD is trading already at $37.
The very strong resistance is seen at $53, where two different Fibonacci retracement levels meet with each other. First is 327.2% and second is 727.2%. This indicates a potential upside target for the current wave and if it will be broken, no one knows how far it can go further.
Comment:
Getting close to the target
Trade closed: target reached
Comment:
Upside target is now acting as a support, uptrend continues