ZILUSDT is currently demonstrating characteristics of a potential descending broadening wedge, with the price oscillating near the lower boundary of the pattern. The immediate trajectory for the price is anticipated to be a rally towards the upper trendline of the structure, testing its strength as a resistance level.
We have identified a bullish area of interest on the chart that is considered an optimal zone for accumulation, with a recommendation to place a stop loss just below the most recent swing low to manage risk effectively. This strategy is predicated on the possibility of a price reversal from this key level, which could catalyze a strong upward movement.
On the chart, we have delineated specific target levels for taking profit.
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Zilusdt make a descent pullback towards our bullish area of interest and bounced off it, this is expected, our focus remain the immediate resistance level.
Apart from the Cardano ecosystem, Alpha Quest believes that there are other projects in the list of dead blockchains, including Harmony, NEAR Protocol, Zilliqa, Celo and Moonriver.