💎Technical Analysis Summary💎
-Zilliqa is now testing key support area at 120s sat
-It is also trading inside a descending channel
-If the Bulls can show up and give any reversal signs
-I recommend buying the breakout of the wedge
-The upside potential is up to 200 sat area
Trading Involves High...
-Zilliqa is currently testing previous support area at 174 sat
-The price is holding this range for 2 weeks already
-The 200D MA is now following the price
-This is an aggressive entry if you are expecting the price to break higher
-But I always recommend buying the breakout of this trendline resistance
-Buying the breakouts signals a strong potential...
-Zilliqa may have found the bottom at 150 sat range
-This is a confluence of previous resistance now turned support
-We can also see a Bullish reversal candle last 2nd of August
-Today, it is trying to break outside the trendline resistance
-If the daily candle can close with a body outside the trendline
-Chances of going up will be higher
-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
-touches to 50D MA twice and reacted bullish on it
-the 170 sat range is also an are of confluence support
-we can the price challenging the daily trendline resistance
-the more it get tested, the more it gets weaker
-you can enter the break/close of trendline
-have a stoploss below the 50D MA
-a strong bounce from the 1490s or 20% move up
-testing the trendline resistance
-if we are looking for a bullish entry
-we want to see a break of the trendline
-comeback and retest to become new support
-that's a good Buy position and target the up to 2122-2666
-stoploss is placed under 1490
-challenging the trendline resistance
-there is also a local resist at 2070
-new potential higher low is being established at 1900
-holding strong a previous resistance > new support
-good buy signal is the price break/close above the 2070s
-upside target is up to 2620s
-stoploss is placed under the 1900s
-the price bounces off at my previous analysis
-before it happened, it painted a bullish reversal candle
-currently trading outside the trendline resistance
-if this break continues, the minimum target is up to 2677 or higher
-stoploss should be placed under 2137s
🏁On our last ZIL chart, we illustrated how ZIL was coming up to heavy resistance on higher time frames and only has a handful of key support ranges below.
What the bulls need to do to maintain momentum in the current uptrend is to find support ASAP and quickly head higher. Failing to do this isn't the end, it just really dampens the immediate bull case, which...
-approaching the previous area of support
-if the RSI hits near oversold level here
-there is a chance we may see a reaction bounce
-watch closely this area / add your alerts
-look for a sign of reversal before entering
🔞Zil has made a mind-blowing 1,200% run since the COVID bottom, despite being in a longterm downtrend before that. While the trend still good, ZIL is coming into a heavy amount of resistance.
Will the bulls keep this momentum going, or is ZIL ultimately headed back down? Let's take a look at some levels to see what both the bulls and bears are up against.
#ZILBTC TA Update overview:-
#ZILBTC currently trading at 22 Satoshi
And now i am bullish because of Good Fandamental coming soon last of this month.
But now trading at Strong Resistance level so i cam expect some retracement before next leg upward.
But also keep in mind if breakout 225 Satoshi level then i can expect 310/485 Satoshi Targets.
-a strong breakout above resistance at 96s
-new higher high is made
-new immediate support at 96s
-breakout is followed with huge volume
-upside potential is up to 200s
-cross ultimate indicator signal Long priority
-market structure is a strong uptrend