Cryptocurrencies

ZIL technical analysis

ZIL seen from the temporality of 1D we can see how the price has made a throwback with a correct test of the key support located at 0.0000006513, indicated in the chart above by a dark blue horizontal color, the price should be kept above that support to continue the upward movement, the pattern that has formed the price gives us a strong signal to buy, if this scenario is concrete, the price should reach without problems our first target located at 0.0000010823, if the price gets enough momentum, it is very possible that we will have a next move to reach our second profit target located within the price range of 0.0000013768 – 0.0000015423, indicated in the chart above by a light blue rectangle.

ZIL seen from the temporality of 4H we can observe more closely the current movement of candles, we see how the price after forming a double ceiling in the resistance located at 0.0000007631 has receded to the diagonal support of the current movement, indicated in the chart above by a diagonal purple diagonal, forming an ABC pattern of correction, the price upon reaching the support has found sufficient demand to propel itself again, with the body of the current candle above the key level located at 0.0000007081, if the price manages to recover this horizontal is very possible that we have a new test of the high range determined by the aforementioned resistance, and then try to form an HL that gives us the signal of a possible bullish break, if this happens, we would have an inverted SHS pattern as a reversal signal.

In conclusion, ZIL seems to be in an excellent moment of purchase, its structure of candles so indicates it, we need that the price recovers the 0.0000007081 and form us an HL so that we can enter in lengths in search of our objectives of gains before mentioned in the graph of 1D, it is important that the price does not fall of the support in diagonal or of the level of demand in horizontal located in the 0.0000006513 in order not to invalidate the movement, therefore, I recommend to be very attentive to the action of the price in 1D and always use stop loss in your operations to avoid possible invalidations.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

Related posts

Total Market cap 230B , but, what do you see on this chart?

toofasteddie

Crypto Contest August 27: ThingsOperatingSystem

Markus Aarnio

BITCOIN: What’s your bet…

toofasteddie

Get involved!

Comments

No comments yet
Skip to toolbar