ZILLIQA 👁️🗨️| How Zilliqa Can Help The 9th Season Of GOT
🔞Zil has made a mind-blowing 1,200% run since the COVID bottom, despite being in a longterm downtrend before that. While the trend still good, ZIL is coming into a heavy amount of resistance.
Will the bulls keep this momentum going, or is ZIL ultimately headed back down? Let's take a look at some levels to see what both the bulls and bears are up against.
Support:
As you a see, there aren't a ton of support levels showing on the chart. This is because the velocity of the most recent move has made it so we can only detect some key levels on lower time frames.
Within the first range on the chart, there are notable support. Even though its levels can't be seen here, this is the ideal place for bulls to find support if there is a pullback.
The S1 S/R flip and the S2 S/R and orderblock both give the bulls a chance to revisit lows if we do head down there, although the trend will be pretty dismal at that point. Meanwhile, at the bottom, we have one last bullish S/R flip that may act as a support of last resort at S3.
Resistance:
The bulls have a lot of resistance to contend with above. First up Is the R1 bearish S/R flip and orderblock cluster, after is the R2 S/R flip. These both come from the range formed in 2018 before the big drop. It'll be important for the bulls to make it up here and find support (without fully breaking momentum) if they want to contend with higher levels.
Our next resistance after is the swing high of that aforementioned move at R3.
Above R3 is the R4 orderblock that was formed on the way down during the immense downside move.
Continuing up we have the R5 orderblock + S/R flip cluster.
Again, these two come from a range made on the way down in 2018.
At R6 we have an orderblock near the range highs of the noted range.
Next, we have R7 which is an S/R flip that seen heavy respect as price attempted to swing up.
Lastly, we have the R8 and R9 bearish orderblock which are the last points of resistance for the bulls before making all-time-highs; an unlikely, but possible, event.
Summary:
The bulls need serious momentum to keep going, but the longer it goes the more overextended the move becomes.
Support will need to be found eventually, but stopping to find support means losing momentum, which may be worse than becoming overextended.
Bulls are playing a dangerous game, but this trend is jaw-dropping and so are the returns so far.
Resources: twitter.com/zilliqa/status/1271082017849921536?s=20
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Will the bulls keep this momentum going, or is ZIL ultimately headed back down? Let's take a look at some levels to see what both the bulls and bears are up against.
Support:
As you a see, there aren't a ton of support levels showing on the chart. This is because the velocity of the most recent move has made it so we can only detect some key levels on lower time frames.
Within the first range on the chart, there are notable support. Even though its levels can't be seen here, this is the ideal place for bulls to find support if there is a pullback.
The S1 S/R flip and the S2 S/R and orderblock both give the bulls a chance to revisit lows if we do head down there, although the trend will be pretty dismal at that point. Meanwhile, at the bottom, we have one last bullish S/R flip that may act as a support of last resort at S3.
Resistance:
The bulls have a lot of resistance to contend with above. First up Is the R1 bearish S/R flip and orderblock cluster, after is the R2 S/R flip. These both come from the range formed in 2018 before the big drop. It'll be important for the bulls to make it up here and find support (without fully breaking momentum) if they want to contend with higher levels.
Our next resistance after is the swing high of that aforementioned move at R3.
Above R3 is the R4 orderblock that was formed on the way down during the immense downside move.
Continuing up we have the R5 orderblock + S/R flip cluster.
Again, these two come from a range made on the way down in 2018.
At R6 we have an orderblock near the range highs of the noted range.
Next, we have R7 which is an S/R flip that seen heavy respect as price attempted to swing up.
Lastly, we have the R8 and R9 bearish orderblock which are the last points of resistance for the bulls before making all-time-highs; an unlikely, but possible, event.
Summary:
The bulls need serious momentum to keep going, but the longer it goes the more overextended the move becomes.
Support will need to be found eventually, but stopping to find support means losing momentum, which may be worse than becoming overextended.
Bulls are playing a dangerous game, but this trend is jaw-dropping and so are the returns so far.
Resources: twitter.com/zilliqa/status/1271082017849921536?s=20
✨Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
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