HexaTrades

ZENUSDT Wedge Pattern Formation!

Long
BINANCE:ZENUSDT   Horizen / TetherUS
ZENUSDT Technical analaysis Update

ZENUSDT currently trading at 53.75

Wedge Pattern Formation.

You can see in the chart four times it reversed from the resistance line and three times bounce back from the support downtrend line. After 60 days of continuous 75% correction finally, it breaks the wedge pattern (resistance line), we can confirm this breakout because the daily candle closed above the resistance line and volume also increased compared to the last 30 days. I'm expecting a small retracement in few days after that we can expect an up move.
Buy level : $50.00- $55.00

Stop loss: 39.00

TP1: $72.00

TP2: $85.00

TP3: $115.00

TP4: $160.00

TP5: $200.00

Note: please do your own research before investing. Never invest money that you can't afford to lose. Every investment involves the risk of losing the entire invested money.





Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.