ZCoin has formed a massive support at $26, which has been rejected multiple times. Looking at the larger time-frame price has formed a double bottom and broke above the downtrend trendline as well as 200 Moving Average.
The closes support is now based near $30 psychological support which is also a downtrend trendline breakout point. While the trend now seems to be bullish price could retrace back to the $30 support, although the buying opportunity is already presented.
There are several resistance level, but the key resistance is located at $75. Only break above that price should confirm a long term uptrend, prior to that the upwards move should be considered a correction.
The closes support is now based near $30 psychological support which is also a downtrend trendline breakout point. While the trend now seems to be bullish price could retrace back to the $30 support, although the buying opportunity is already presented.
There are several resistance level, but the key resistance is located at $75. Only break above that price should confirm a long term uptrend, prior to that the upwards move should be considered a correction.
Comment:
first resistance reached
Comment:
resistance broken, uptrend is likely to continue