Cryptocurrencies

ZRX technical analysis

ZRX seen from the 1W temporary we can see how the price is showing a big bullish push after the slow decline that was pronounced towards the support located at 0.00001473 which is marked on the graph by the black horizontal, the closing of the previous candle has been a powerful bullish candle, while the development of the current candle remains bullish, despite the sharp fall in the price of BTC, this is a good signal for this currency, should meet without problems our objective located within the price range of 0.00003857 – 0.00004275 which I have indicated on the chart above by a light blue rectangle.

ZRX seen from the temporality of 1D we can observe more closely the current structure of candles, has been impressive vertical rise that has given the price in previous days, currently could be forming an upward pattern known as flag, which according to the theory should conclude with a continuation bullish, in the graph I have indicated by means of a triangle red color the possible figure that should form, we still cannot determine it because we need that the price form us an HL to locate the exact support of the figure, inside the triangle I have drawn the possible trajectory that could follow the price during the development of the figure with minima every time higher we would have a continuation in direction to the rise.

In conclusion, ZRX “exploded” 1 week ago and I haven’t been able to locate it in time between the sea of opportunities in the markets, however, the area of supply has not yet been tested so it still has a good percentage of profits ahead, its current movement is quite good despite the blow that has given the BTC movement, we could anticipate that its movement will not be affected over the next few days, still recommend to be very attentive to the action of the price in 1D 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

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