Ziliqa at risk of 40% drop reveals new weekly candle

BINANCE:ZILUSD   Zilliqa / US Dollar (calculated by TradingView)
The weekly candle close was brutal.

After an indecision candle 2 weeks ago which pierced resistance and then closed below...
...then last weeks candle a steep red...
...and MACD trending down...
...given the meteoric rise we've seen in ZILUSD the past few months... makes sense that Ziliqa may have to drop all the way down to find support, perhaps at the 0.011 level. A 40% drop from current price.

This is more likely to happen if BTCUSD does not somehow manage to quickly break it's consolidation range to move upwards, which as usual would probably bring the rest of the market up with it, including Zil.

Bottom line, traders are likely to be taking profit and looking for a cheaper entry position on Zil.
Trade closed manually: Momentum has shifted for Zil so this trade idea is cancelled as of July 6 with 0 gain/loss.

New trade:

SparksterSignals — trade with fully backtested algo-assisted signals:

Public strategy library:

Join our Telegram announcement channel:


Looking like a massive 3 bar play on the weekly there... could drop a good bit. BTC just had a mini pump while ZILBTC continued with downward momentum
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out