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Zilliqa

ZIL/BTC daily outlook 7/12/2020Good morning everyone and welcome to my alt coin analysis. I have been getting a lot of requests so every time I feel like analyzing a coin I go to the list and pick the next one down. Right now it is ZIL/BTC. I see that so many alts look quite similar to this chart. Almost a year of flat sideways movement with almost nothing exciting occurring. That is until May of this year. We saw a 5X jump from nearly 60 sats to 310 sats. That is exciting and I congratulate anyone that had the foresight to buy at 60 sats... Your patience has been rewarded. We have dropped a bit since this years ATH of 310 sats. No sweat though right? Only time will tell us if the gains will hold. I pointed out on the chart that this particular coin has been moving sideways and flat in some sort of huge accumulation period. It stayed around 60 sats for almost 1 full year before finally becoming bullish again. But if you look at the more zoomed out (weekly time frame) we are still very far from the previous ATH of nearly 2500 sats. So we are still very far from that. But that doesnt mean we cannot make some money off this alt. I also pointed out that the daily has a full on golden cross. This golden cross sort of reminds me of the one we saw on the BTC/USD chart last year in May. We shot from 5500 to 14k in a matter of weeks after that golden cross. I say this often but not all golden crosses are created equal so you should understand that before you jump into a long on account of this analysis. I also threw a traditional fib onto the chart to get an idea of where support and resistance could lie and it looks to me like we are testing the .382 fib (yellow fib line) pretty strongly. I have already received a sell signal for now so we may drop below this .382 fib if that sell signal was right. Only time will tell of course. We are still nearly 4X up from earlier this year so there would be no shame in taking some profit even after missing the ATH this year. Believe me, traders rarely sell at the top. Many claim they never miss the top but if you ask me I think its BS. If they were that good they would not need to work a 9-5 on top of trading. But then again WTFDIK??? TLDR: I like what Im seeing with Zil... Its nice to see life in this alt after some pretty solid consolidation that has finally come to a conclusion. If you want to go long at this point set a stop loss.... But that is a rule I always stick with. Good luck everyone!
by UnknownUnicorn4304403
2
ZIL Just Getting started? Wave 2 retrace, BullishLooks like a completed first wave impulse. Look for a short term retest of resistance ($0.022 - $0.023) before moving down to test the support level at $0.012 - $0.013. Log chart Support and Resistance Supply zones: Elliott wave count and key Fib levels: Never Trust. Verify. DYOR. Not Financial Advice Just an Observation. Always remember: Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
BINANCE:ZILUSDLong
by TribeWriter666
3
Alligators Trend Following on ZILHello, Traders. Our indicator is showing that we are still in a downward trend since the formation of the top, I believe that we can sideways between 180 satoshis to 220 satoshis, that is quite a volatility. The buying point in this asset is when the price goes above the alligators moving averages, so the buy point is going to be on the pullback to the "lips" line See in this example above what needs to happen in order to have a good buy, the price needs to be above the 3 lines of average movements and make a pullback to the green line, so we end an excellent trade with a good risk-reward. Patience Pays. Push the like Button and follow us on TradingView.
Long
by MarketMinds
ZIL/USD- Surely time to head North this week?Condolences to those that have ridden ZIL from the top on this 16 day retrace. But.... Thoughts are that a turn around is in the cards within the next week or so. Buyers seem more cautious over the last fortnight and the continued retrace has echoed through a lot of our favored ALT's. I think we'll find some resistance on the way back up but entry on the break or support levels now seems more appealing due to the lengthy retrace. There's certainly room for a further dip before a change in the trend but indicators look appealing for a reversal this week. I'd be keeping on eye on this project over the coming days. As always, not financial advice, just my thoughts and TA. Thoughts and feedback welcomed. Bingaz
BINANCE:ZILUSDLong
by Bingaz
8
ZILBTC 440% bullish move and a bullish reversal patternHi friends hope you are doing well and welcome to the new update on Zilliqa coin. Zilliqa has surged more than 440% and in today's article we will try to understand how this coin completed the setup before this bullish move and what the price action can do next? A formation of big pennant: A year ago on 21st June 2019 I posted a chart where I revealed that the price action of Zilliqa coin is moving within a pennant on weekly chart And it take a bullish divergence at any time. At that time the price action found the support at 0.00000200 sats. Froom May to June 2019 the price action moved above 0.00000200 sats support and again moved down at the support of the pennant. Since then it was moving with the support of pennant and finally found the last support at 0.00000055 sats. The price action left the pennant directionless and moved sideways from September 2019 to April 2020. And finally took a powerful bullish divergence and produced more than 440% bullish rally. If we place the Fibonacci tool from the tail of the pennant up to the support of 0.00000055 sats then the sell targets would be as below: 1st target 0.382 Fibonacci projection at: 0.00000300 2nd target 0.50 Fibonacci projection at: 0.00000370 3rd target 0.618 Fibonacci projection at 0.00000440 4th target 0.786 Fibonacci projection at 0.00000540 The above is the projection tail of the pennant to the support of 0.0000055 sats. The strong resistance: After hitting the first target at 0.00000300 sats the price action also has found a strong resistance at this level. This 0.00000300 sats level is really very powerful resistance for the priceline as it has never been broken out since after it was broken down. We have seen several attempts by the price action from the May to June 2019 and after a long time the price action again has attempted to breakout this resistance and now it is rejected again. The simple moving average resistance: If we place the simple moving averages with the time period of 25, ,50 and 100 on this weekly chart. Then it can be also observed that the price action also has a strong resistance of 100 simple moving average on this long-term weekly chart. And the 25 and 50 simple moving averages are below the price action but the distance between the candlesticks and these moving averages is very big. Therefore if the priceline will be moved down to have some support by these moving averages then there can be a drastic drop of around 100%. Because at this time the 25 simple moving average is at 0.0000097 sats. However if the moving averages will be moved up to provide the support to the candlesticks then the price action will not take a big drop. A bullish reversal pattern on small time period chart: Now if we switch to this small chart with the time period of 2 hour. Then we can notice that priceline is continuously forming different harmonic patterns. First the priceline formed a bullish Cypher pattern (Here I have ignored a small difference of C leg) and after taking bullish divergence from the potential reversal zone of Cypher the priceline also formed another bullish BAT. At this time price action of Zilliqa is moving in the potential reversal zone. This potential reversal zone should be used as stop loss because if the priceline will break down this potential reversal zone level. Then it can move more down to complete the final leg of bullish Butterfly pattern. Even though these harmonic moves are not formed on as that much big time period chart that can provide a strong push to the priceline to breakout the 0.00000300 sats resistance but how ever it can be helpful for the priceline of Zilliqa. Conclusion: After taking the first bullish move this is first time the price action has started a correction rally. Therefore this drop was required for the healthy bullish move. Therefore we cannot consider it as a big drop unless it will not cross down the 0.786 retracement level.
Long
by moon333
3
Shill the ZilPlease feel free to comment or challenge me on my TA. If you like my idea, please leave a like to show support. -------------------------------------------------------------------- Zilliqa has seen a very nice bullrun over the past month. It played out beautifully with retracements whenever it was necessary. After a 300% increase since the beginning of May it is healthy to see a significant correction come into play. Zilliqa however is a qualitative project with great upside potential. This is why I feel this correction is welcome as it gives us the opportunity to either buy some more ZIL at a cheap price, or to catch a nice trade with high R/R. What can the chart tell the bulls : - Elliot wave correction has been fullfilled - Higher lows have been set (yellow circles) - Double bottom formation What can the chart tell the bears : - Yet to set a higher high - Bearish divergence with the RSI - Weekly resistance level at 214 sats Trade opportunity: Possible entries: Weekly R (214 sats) or Daily S (206 sats) Targets: Daily R (229 sats) = 7% and Weekly R (286 sats) = 33% Happy trading!
Long
by Coinathlon
9