ZIL UpdateGiven the recent run and top, and all things considered, ZIL appears to be holding the fibs pretty well overall, I projected the timeframe a bit and drew the fractal I think it will make accordingly.
Zilliqa
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
Looking To Add 40% ONTO My Zilliqa Holdings!So here we are looking to accumulate some fresh Zil from the market without any extra capital. Worth the shot as risk-free trade as the sold part of this trade is profit in BTC. So any lower amount of Zil for the long term is a brucey bonus.
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.
Zilliqa seasonThe last powerful impulse wave makes this scenario possible, please pay attention to volume, amazing increasing, I will look for a bullish sign on fibo 50% and 61.8% that could be good places for add on my volume.
Keep your eyes on Zilliqa and support me with your likes and share your opinion with me in comment.
ZIL next impulse to .04Zil looks to be completing the retracement of a wxyxz pattern. I believe will will retrace to about .0162 level, a support line that has held for zil in the past. This is also the .5 fib retracement level, giving further confluence. After this it looks like the 5th elliot wave impulse will take Zil to about .04.
Some triangle thing still doing somethingHere it is in action, watch as it does something as we expect it to do something. If this turns out to be a nice continuation pattern, we can see more downside. I would not be buying in here unless you like gambling without a strategy.
ZIL USDTVery critical moment for $ZIL
If it breaks down from this current channel then the fall would be strong!
If breaks up then again to all time high.
So be careful.
*** Just sharing my opinion not an investment advice.
ZILLIQA READY FOR A MOVE HIGHERZilUsdt at 200moving average + trendline +
bearish momentum running out is ready for a push higher beyond my humble knowledge
Target of the trade at 0.25$
Entry below 0.21$
Stop loss at 0.1775$
Hope you like my idea! This is my first one, I will keep posting ideas if I feel feedback from you
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.
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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!
ZIL looking for a retracementIf zil breaks through this 12 hour ichimoku cloud I'm expecting a decent retracement to about .013-.014 area. This matches up with the golden pocket zone. Keep an eye on its next moves for confirmation. Feel free to comment your own analysis and thoughts.
Yep... can't be any easier to seePrice is continuing to follow this corrective move to the downside... let's see if previous support/resistance levels hold or not!
Zilliqa Short Time Review (Zil Btc)If it can break the trend line from 230 satoshi, 270 satoshi is not far away. if it fails, it can try the bottom trend line and come to165 satoshi. It is my amateur work. it is not investment advice. good luck.
ZIL/USD- Where to from here? ZIL is seeing some support come in to play over the last couple of days however continues it's downtrend channel.
Next 24 hrs will either see a break from trend on current supports shoulders, or a rejection down to a lower support which should bring buyers to the market.
I think the if you picked this up on the dip two days ago you are in a good position but we may be given PA similar to that price again in the next few days if rejected by previous support line.
Still bullish long term on this project but always looking for the best possible buy price to minimise risk.
The other entry option on the break of trend carries higher risk, I'd be more inclined to buy a positive retest after breakout or hold fast until I'm happy with a supported entry at the bottom of channel (closer to 200SMA)
As always, not financial advice, just my thoughts and TA.
Bingaz
