ZENUSDT → Bullish potential in the red market. Break of 10.0 ↑
Updated
ZENUSDT demonstrates a rally and a retest of the range resistance in the form of a false breakdown, only that does not lead to a fall. The price is forming a pre-breakdown consolidation. With the breakout of 10.0, the growth may continue On H4, a reversal pattern is forming within the framework of which, while the cryptocurrency market was falling, zen was testing resistance. A false breakout and liquidity capture is formed. This maneuver does not lead to a fall, and the market goes into a state of consolidation, the nature of which resembles a pre-breakdown.
There are no fundamentals, the market follows the flagships, which fall because of some problems. Bitcoin is dragging everyone down due to the sale of a large number of coins by Germany, and the debt repayment by Mt.Gox exchange, which has destabilized the situation in general.
Resistance levels: 9.79-10.0
Support levels: 9.35, 8.8, 8.14
In this case, it is acceptable to use a breakout strategy against resistance at 9.79-9.87. But, if the structure will be broken, the price, in order to increase the volume before the growth may head towards the support.
Regards R. Linda!
Trade active
Pre-breakout pattern.
The price is still in the consolidation phase
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The first test of 9.79 leads to a false breakdown and fall (the second scenario), within which the price reaches the key support at 8.14.
And, as I pointed out, a bounce from 8.14 is formed to 10.0. The market is testing resistance for a breakout move
From 8.14 an excellent 20% move is forming.
A consolidation above 10.0 will signal that the market is ready to continue rising.
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The resistance breakout took placeTrade active
Realization of the setting and change in the nature of the movement. Retest 11.0Trade closed: target reached
Target 1 reached
+43%
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+50%Trade active
ZEN prepares to go even higher on the back of Bitcoin's riseTrade active
Continuing to hold The rally is not over
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ZEN is consolidating above a key level. Getting ready to go even higher....Trade active
ZEN updates the high to 13.4All emphasis is on the support at 11.6. If the bulls hold this zone, the coin could go to the ultimate target
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