Supports marked in the chart
Zil hit 1560 sats which was only 40 sats shy of our previous target of 1600 sats (See my April 22 TA) I do believe we have completed Wave 5 already and if so, the above chart shows the possible scenario: Retracement target of roughly 1042-1132 (38.2%) could coincide with trend line support (in green). Wave 5 ending diagonal/rising wedge with a "throw over"...
So, we previously had 2 bullish scenarios for Zilliqa and with this huge price action, I truly believe that this is the correct Elliot Wave count because: Wave 3 is often: 1) The longest 2) Has the highest volume 3) Has the steepest slopes. Wave 3 hit slightly higher than 1.618 fib and naturally we target slightly higher than 2.618 which is around 1600 sats...
This is an update to my earlier idea. Please see my other Bullish Scenario 2. Subwave 3 hit a perfect 1:1 and Subwave 5 hit a 1.618 fib ext. This is textbook material! Just to put things into perspective: We rose from 350 sats on the 9th of March until 850 sats today on the 20th of April. That is 141% gain in only 42 days. A correction is imminent and this...
This is an update to my earlier idea. Please see my other Bullish Scenario 1. We are still targeting 854 to 890 sats as per earlier idea but the top is near. We seemed to be in a wedge formation and this also indicates it will break down sooner or later. Just to put things into perspective: We rose from 350 sats on the 9th of March until 850 sats today on...
target: Roughly between 890 and 924 sats
Zilliqa hit a perfect 1:1 extension for Wave 3 and we target 1.618 fib ext for Wave 5 Subwave 3 of Wave 5 hit a 2.618 fib ext so we target 3.618 for subwave 5. Both waves agree on a similar range of 825 to 888 sats for the final wave up. p/s: Wave 4 did slightly intrude into Wave 1 territory in the 4 hour charts but the daily chart is still fine. Supporting...
Major resistance at 750 sats and we find support at 726 sats. Subwave 5 can hit a double top at 750 sats again or if there's enough buying volume , it can hit roughly 770-782 sats EW count is INVALID if the price retraces below 726 sats with volume (no wicks)
Bullish Scenario 2 using a leading first wave diagonal for the Wave 1 We retrace to less than 0.5 fib level and we are now completing Wave 3 targeting roughly between 854 and 900 sats. Major resistance at 750 sats and we have some support at 726 sats.