ZKIN in Triangle headed to $4.00 (20%)
The price of ZKIN has formed a symmetrical triangle pattern, which can break both to downside or upside. Considering that the price of ZKIN is in a 4H uptrend, it’s more likely to break to the upside.
Basically as long as the price isn’t below 50 EMA, which is currently located at $3.12, the overall uptrend remains.
The downtrend line that ZKIN has to break, is currently located at $3.44. A break of $3.50 would then confirm the break of the downtrend line, and the gains could exceed to retest recent pivot high located at $3.79.
On the other hand, the uptrend line is located at $3.20 per share. If bulls wants a strong uptrend, the price has to maintains above 20 EMA. Currently ZKIN is above 20 EMA, so we may say that a we are in a strong 4H uptrend.
Indicators.
After two strong selling waves, MACD wave indicator can likely signal a buying wave, as it’s still above neutral bullish levels in uptrend. Above 0, (26EMA = 0.05, 9EMA = 0.08)
RSI is showing a normal hidden bullish divergence, which is expected to push the price higher or a see correction to the upside.
Current 4 hour resistance levels, which break of confirms bullish momentum.
$3.50 $3.75 $4.00!
Support levels.
$3.35 $3.10 $2.95
The 4H overall ZKIN outlook will confirm either a break above $3.50 or a break below $3.15. Both of these levels will bring momentum. Either to $4.00 or $2.95.
Basically as long as the price isn’t below 50 EMA, which is currently located at $3.12, the overall uptrend remains.
The downtrend line that ZKIN has to break, is currently located at $3.44. A break of $3.50 would then confirm the break of the downtrend line, and the gains could exceed to retest recent pivot high located at $3.79.
On the other hand, the uptrend line is located at $3.20 per share. If bulls wants a strong uptrend, the price has to maintains above 20 EMA. Currently ZKIN is above 20 EMA, so we may say that a we are in a strong 4H uptrend.
Indicators.
After two strong selling waves, MACD wave indicator can likely signal a buying wave, as it’s still above neutral bullish levels in uptrend. Above 0, (26EMA = 0.05, 9EMA = 0.08)
RSI is showing a normal hidden bullish divergence, which is expected to push the price higher or a see correction to the upside.
Current 4 hour resistance levels, which break of confirms bullish momentum.
$3.50 $3.75 $4.00!
Support levels.
$3.35 $3.10 $2.95
The 4H overall ZKIN outlook will confirm either a break above $3.50 or a break below $3.15. Both of these levels will bring momentum. Either to $4.00 or $2.95.
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