Zclassic VS Bitcoin Could Go Higher
Updated
Zclassic recently bounced off the 112k satoshis and went sharply up, reaching 145k level, where it has rejected the 50 Moving Average. Since then price was bouncing off the uptrend trendline and today broke above the downtrend trendline as well as the 50 Moving Average once again.
ZCL/BTC reached the resistance at 135k satoshia and went down bouncing of the downtrend trendline and the 50 Moving Average, suggesting the continuation of the corrective move up. But break above the recent high could be an additional confirmation of the potential wave up.
When/if 135k satoshis resistance is broken, the next resistance level is seen at 150k. Break above it could mean the trend reversal, resulting in a strong upside move. But if the current resistance will hold, downtrend might continue or at least price could go down towards the 112k satoshis support.
ZCL/BTC reached the resistance at 135k satoshia and went down bouncing of the downtrend trendline and the 50 Moving Average, suggesting the continuation of the corrective move up. But break above the recent high could be an additional confirmation of the potential wave up.
When/if 135k satoshis resistance is broken, the next resistance level is seen at 150k. Break above it could mean the trend reversal, resulting in a strong upside move. But if the current resistance will hold, downtrend might continue or at least price could go down towards the 112k satoshis support.
Trade closed: target reached
📱 Telegram: t.me/Tradexcel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.