Zil:Eth Expect to continue on the 1 month uptrend
TL:DR - Zil is holding support on the blue dashed uptrend line going back almost 1 month. I expect to hold this and move higher. Otherwise watch for 0.000192 and 0.000177 for support.
I apologize for the busy chart.
Update on Zilliqa with this Zil:Eth 1 hour chart. We have now retraced about 75% from the peak of the bull-run/blow off top. As expected the dashed blue trend line has held as support. We are testing it again and will hopefully bounce off of it. The 66% retracement around 0.000211 acted as resistance and will be a critical level to break, I would expect a retest in the next 1-2 days.
I have added the dotted black line as this could be a downward channel that could be used for day trading. I have left the dashed red line as well which admittedly makes this chart an eye-sore. If indeed this was a Bull pennant (red dashes) then we should break through the 66% retrace line acting as resistance and I will be able to delete those lines. If it is a downtrend channel then the black dotted line will act as resistance.
Finally, the blue line continues to act as support. This is an extension of Zil's uptrend just prior to its breakout. Holding this line will carry us through 0.000211 and higher. A break of this line and watch to 0.000193 and then 0.000177 for the next supports.
***This is not investing advice. I am not an investing professional. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
I apologize for the busy chart.
Update on Zilliqa with this Zil:Eth 1 hour chart. We have now retraced about 75% from the peak of the bull-run/blow off top. As expected the dashed blue trend line has held as support. We are testing it again and will hopefully bounce off of it. The 66% retracement around 0.000211 acted as resistance and will be a critical level to break, I would expect a retest in the next 1-2 days.
I have added the dotted black line as this could be a downward channel that could be used for day trading. I have left the dashed red line as well which admittedly makes this chart an eye-sore. If indeed this was a Bull pennant (red dashes) then we should break through the 66% retrace line acting as resistance and I will be able to delete those lines. If it is a downtrend channel then the black dotted line will act as resistance.
Finally, the blue line continues to act as support. This is an extension of Zil's uptrend just prior to its breakout. Holding this line will carry us through 0.000211 and higher. A break of this line and watch to 0.000193 and then 0.000177 for the next supports.
***This is not investing advice. I am not an investing professional. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
Comment:
We are again testing the 0.000211 resistance/support area. It has be strongly pierced and I expect we break through it. The dashed blue trendline remains intact, sorry I didn't extend it further, I will publish another chart tomorrow with it extended further into the future.