As we can see on the daily Zilliqa failed two times to break the resistance line, and is currently forming what it looks like an iH&S pattern.
Wavetrend had bullish cross in oversold zone which indicates of a possible swing to the upside, selling pressure/volume is declining, RSI and OBV had a nice reset.
Remember that the pattern is not yet confirmed and is only speculative. There is a huge R/R ratio in this trade.
This has been gigantic consolidation phase for Zilliqa lasting over 6 months, and if this form completes it could very well mean reverse of a trend.
Wavetrend had bullish cross in oversold zone which indicates of a possible swing to the upside, selling pressure/volume is declining, RSI and OBV had a nice reset.
Remember that the pattern is not yet confirmed and is only speculative. There is a huge R/R ratio in this trade.
This has been gigantic consolidation phase for Zilliqa lasting over 6 months, and if this form completes it could very well mean reverse of a trend.
