First analysis for the year. If I have more time, I'll try to increase the frequency of my analysis posts.
Feedback, input, and comments are all welcome!
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Pair: ZRX/USD
Time Frame: 1-Day
The current trend for ZRX/USD is a weak bearish movement. Since November 2018, a descending triangle has been forming, as shown by the progressive lower highs. The current support is holding at the $0.25 zone. Price action will probably continue to stay within the triangle, but the market will be forced to pick a direction within the next few weeks (or months). If the bulls decide to break out upward, then their momentum could easily take them to the $0.45 zone (Fib 23.6%), and beyond that probably test the $0.58 zone (Fib 38.2%). However, any bullish sentiment should be taken with caution as there is still enough bearish volume to slowly push price action south, as shown by the thickness of the Kumo(Cloud) on the Ichimoku. The fact that there is still no cloud twist shows the possibility of downward movement. Additionally, on January 10, the thicker part of the cloud acted as a hard resistance and forcibly pushed the price action downward. The support at the $0.25 zone is tentative, and if broken can see the price action move south towards the $0.20 zone. Any further collapse can see the price action touch the $0.15 zone. Regardless, the general assessment for this asset pair is that there is still much more room on the upside.
For the Bulls:
There are a couple ways to play the entry points for this current market environment.
Recommendation 1-
Buy at price (up to $0.35) and wait for upward momentum.
Take Profit Targets are: $0.58, $0.68, $0.78
Recommendation 2-
Wait to see how the market reacts to the ascending triangle.
If the $0.25 support is broken via bearish momentum, then:
Set BUY targets: $0.20 ( up to $0.35 (as the bullish momentum is regained)
Take Profit Targets are to remain the same.
For the Bears:
Recommended Short- $0.24- $0.25 (zone)
Take Profit Target 1-$0.20
Take Profit Target 2-$0.15
For Rangers:
There has not been a solid ranging window in the recent history of this pair.
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As always, manage your risk!
-DC
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NOT INVESTMENT ADVICE. The opinions and analysis expressed above are strictly my own.
This analysis was sponsored by the Paribus Group (www.paribusgroup.io/)
Feedback, input, and comments are all welcome!
==================================
Pair: ZRX/USD
Time Frame: 1-Day
The current trend for ZRX/USD is a weak bearish movement. Since November 2018, a descending triangle has been forming, as shown by the progressive lower highs. The current support is holding at the $0.25 zone. Price action will probably continue to stay within the triangle, but the market will be forced to pick a direction within the next few weeks (or months). If the bulls decide to break out upward, then their momentum could easily take them to the $0.45 zone (Fib 23.6%), and beyond that probably test the $0.58 zone (Fib 38.2%). However, any bullish sentiment should be taken with caution as there is still enough bearish volume to slowly push price action south, as shown by the thickness of the Kumo(Cloud) on the Ichimoku. The fact that there is still no cloud twist shows the possibility of downward movement. Additionally, on January 10, the thicker part of the cloud acted as a hard resistance and forcibly pushed the price action downward. The support at the $0.25 zone is tentative, and if broken can see the price action move south towards the $0.20 zone. Any further collapse can see the price action touch the $0.15 zone. Regardless, the general assessment for this asset pair is that there is still much more room on the upside.
For the Bulls:
There are a couple ways to play the entry points for this current market environment.
Recommendation 1-
Buy at price (up to $0.35) and wait for upward momentum.
Take Profit Targets are: $0.58, $0.68, $0.78
Recommendation 2-
Wait to see how the market reacts to the ascending triangle.
If the $0.25 support is broken via bearish momentum, then:
Set BUY targets: $0.20 ( up to $0.35 (as the bullish momentum is regained)
Take Profit Targets are to remain the same.
For the Bears:
Recommended Short- $0.24- $0.25 (zone)
Take Profit Target 1-$0.20
Take Profit Target 2-$0.15
For Rangers:
There has not been a solid ranging window in the recent history of this pair.
==================================
As always, manage your risk!
-DC
----
NOT INVESTMENT ADVICE. The opinions and analysis expressed above are strictly my own.
This analysis was sponsored by the Paribus Group (www.paribusgroup.io/)