Today ZRX shows the first sign of strength and a bullish reversal sign after a three-month bear market with a long green bar - accompanied by relatively high volume - started near $0.58 strong support towards resistance area – previous high.
One more bullish sign in the short term is that price closes above 20MA.
Yesterday, ZRX tested support level, formed that way a higher low.
The bullish reversal confirmation will come after bearish trendline breakout. If you want a stronger signal to go long wait until price breach $0.70 support and 20MA cross above 50MA (Golden Cross).
Stop loss or alert: slightly below $0.578
Take profit: $1.20 – 1.41 (Fibonacci Retracements)
R/R: 8.98 – 12.35
ZRX may reach $2.5 – 3.00 or more at the end of the bull market.
One more bullish sign in the short term is that price closes above 20MA.
Yesterday, ZRX tested support level, formed that way a higher low.
The bullish reversal confirmation will come after bearish trendline breakout. If you want a stronger signal to go long wait until price breach $0.70 support and 20MA cross above 50MA (Golden Cross).
Stop loss or alert: slightly below $0.578
Take profit: $1.20 – 1.41 (Fibonacci Retracements)
R/R: 8.98 – 12.35
ZRX may reach $2.5 – 3.00 or more at the end of the bull market.
Trade active:
Markets are falling due to Russia - Ukraine tensions. That can not affect the market in the long run. Stay to your plan. Do not panic sell!
