ETH USD has remained under the July 2020 up trendline for a substantial number of days for the second time since September 2020.
This puts the trading pair in a likely downtrend as:
1. A down move would push ETH USD back to the key up trend line from March 2020 (purple line) by the end of Oct 2020 — which should provide very strong support.
2. There is a...
Zyne has a clear breakout from the 6.8 resistance (now being established as the support). Based on the long term numbers, there is not really any key resistance till $10.50. Now the question is when?
If ZYNE' continues on the current upward trend line (Marked in dark grey), we could see it as early as mid-July 2020; Next best would be the Light Grey trend line....
11.85 seems to have made a very strong resistance and UPWK has been moving in right direction in the bull triangle for awhile. Price could fall back to 11.85 in the next day or 2, but this will probably only delay the move back to the 13s. Patience will be key here.
Lines Legend
1. Horizontal lines: Used to mark out major resistances and support based on...
ZM is still very much on the bullish side of the trend line and the next few days will decide if it makes or break.
Watch the 244.03 mark. If it fails to break above that mark in the next few days, it's a long way down for this boy.
Either way, I WILL NOT RECOMMEND to LONG ZM at this point as the risk/reward ratio not great and the p/e ratio of >1300 is just...
