ZEC may have FINALLY hit bottom on the downtrend for the last couple months. Take a look at the white line (.0274, top of light blue box) as far back as it goes, it has been a historical resistance/support level and is acting right now as a hard bottom to the recent downward trend.
-RSI continues to trend down, but price is staying at the .027-.028 level.
On the 4H:
The 4H shows Tenkan below Kijun and the cloud, with price having been recently rejected by all three.
On the 2H:
The 2H shows a very similar picture to the 4H, with price being held down by the combination of the Tenkan, Kijun, and cloud. This doesn't spell the end of the world, just means that there will be several tests that have to take place before any significant upward trend can be expected.
ZEC really continues to be painful to HODL, but I will continue to do so. I will also continue to look at add to my position inside the blue box, whenever ZEC dips below the support. It may take months or even years, but when ZEC pops, it will be big and patience will be rewarded.
**This is not investment advice, nor am I a professional. Do your own research and be responsible for your own decisions.**
-RSI continues to trend down, but price is staying at the .027-.028 level.
On the 4H:
The 4H shows Tenkan below Kijun and the cloud, with price having been recently rejected by all three.
On the 2H:
The 2H shows a very similar picture to the 4H, with price being held down by the combination of the Tenkan, Kijun, and cloud. This doesn't spell the end of the world, just means that there will be several tests that have to take place before any significant upward trend can be expected.
ZEC really continues to be painful to HODL, but I will continue to do so. I will also continue to look at add to my position inside the blue box, whenever ZEC dips below the support. It may take months or even years, but when ZEC pops, it will be big and patience will be rewarded.
**This is not investment advice, nor am I a professional. Do your own research and be responsible for your own decisions.**
Comment:
Kept dropping a bit further than anticipated, but starting to show a bullish divergence on the daily...a good sign.
Comment:
Recovered quite nicely out of our support zone. I'll keep an eye for whenever it drops back in that blue box and scoop some up