Check if 224.47-260.42 can be supported

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(ZECUSDT 1M chart)

You might be wondering why it's rising, but you don't need to know why.

Because it's already rising.

It's a sharp rise, breaking above the important support and resistance area of ​​56.29-78.91.

The key is whether the price can hold above the Fibonacci 1.618 (338.52) level.

If not, we need to check for support near 220.20, the previous DOM (60) indicator level.

Since the chart was broken by a surge, I believe the next support period is crucial.

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(1W chart)

The next volatility period is expected to be November 3-23, around the week of November 10.

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(1D chart)

As mentioned earlier, since the chart was broken by a surge, I think we can calculate the next volatility period based on the next support period.

Until then, we need to see how the price moves after this volatility period, which runs around October 21 (October 20-22).

Looking at the current 1D chart, the HA-High ~ DOM(60) range is forming between 224.47 and 260.42. Therefore, we need to see if it can find support within this range and rise.

If it falls below 220.20, it could fall to around 115.72, so we should consider a response plan.

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Thank you for reading to the end.
I wish you successful trading.

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