Hey friends, hope you are well and welcome to the new update on Zilliqa coin.
On a daily chart, the price action of ZIL has completed the final leg of bullish harmonic Shark pattern and entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to the Fibonacci sequence of harmonic Shark pattern should be:
-after the trendline breakout
-the price has pullback to previous resistance
-and has the chance to flip into new support
-there is also a new upward trendline support
-aggressive buyers can enter the market at this area
-while breakout traders will wait for the resistance at the 1950s
-and enter a breakout confirmation
-the upside target is up to 2130-2600s
Hi friends hope you are doing well and welcome to the new update on Zilliqa coin. Zilliqa has surged more than 440% and in today's article we will try to understand how this coin completed the setup before this bullish move and what the price action can do next?
A formation of big pennant:
A year ago on 21st June 2019 I posted a chart where I revealed that the...
Zil is trending down, momentum is still down and price is still making lower lows.
It is possible that we see a move up to test support lost.
All the fibs line up nicely with the 150-120 range.
The plan here is to long the first retest of support at around 376 sats.
I'm hoping that the support level where price is currently will fail for a nice opportunity to long the next level under.
TP is at what i think is the next closest strong resistance.
All ive used here is simple horizontal support and resistance lines, lets see how this goes.