$ZIL set for a new breakout? #ziliqa
ZIL has been consolidating in the past few 4h candles: if this consolidation area is broken to the upside and we see a nice breakout from the 0.086 resistance zone, we can place a good long order targeting the following resistance @ 0.10
speaking of confluences, a breakout from the said area would also mean a breakout of 4h 50 EMA (which you can see in light blue) and 1D 50 EMA (which is instead white)
profits would be around 12% but I always suggest to pick your own take profit and stop loss levels
judging from the volume profiles, we can also see the current price area is very strong, thus we can expect some good momentum if it gets broken
anyways, we must also see that we are in a downtrend right now, so be careful guys! trends continue more times than they do not, but I think if we get a breakout we can still have a nice rally
let me know what you think about this and drop a like and a follow if you found this helpful!
speaking of confluences, a breakout from the said area would also mean a breakout of 4h 50 EMA (which you can see in light blue) and 1D 50 EMA (which is instead white)
profits would be around 12% but I always suggest to pick your own take profit and stop loss levels
judging from the volume profiles, we can also see the current price area is very strong, thus we can expect some good momentum if it gets broken
anyways, we must also see that we are in a downtrend right now, so be careful guys! trends continue more times than they do not, but I think if we get a breakout we can still have a nice rally
let me know what you think about this and drop a like and a follow if you found this helpful!
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