Zilliqa / TetherUSUpdated ZILUSDT time to retracement?
ZILUSDT is currently trading inside an ascending channel. However, the price recently got rejected from the daily resistance level at $0.035, which suggests that the market may be experiencing a bearish trend.
If the market continues to decline, there is a possibility that it could retest the Fibonacci area and experience a new bearish impulse. It is important for traders to monitor the market closely and consider applying Plancton's rules to manage their risk effectively.
Additionally, there is a demand zone at $0.028, which could serve as a potential support level for the price. Traders may want to keep an eye on this level and consider taking long positions if the price bounces back from this zone.
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Follow the Shrimp 🦐
Keep in mind.
If the market continues to decline, there is a possibility that it could retest the Fibonacci area and experience a new bearish impulse. It is important for traders to monitor the market closely and consider applying Plancton's rules to manage their risk effectively.
Additionally, there is a demand zone at $0.028, which could serve as a potential support level for the price. Traders may want to keep an eye on this level and consider taking long positions if the price bounces back from this zone.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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