Feb 2021's ATH were broken, albeit briefly, hours ago, and we now see just how strong the resistance is at the Bear's camp towards the $0.16 region.
It seems that we are now in a Corrective Wave ABC (Flat 3-3-5).
Depending on the kind of price action confirmations we get in the next few days, $ZIL could see 2 types of results from here:
Result 1
Bears win, and price is pegged back down. Bulls lose momentum and price dips towards a Corrective Wave C. TP: $0.081.
Result 2
Bulls reign supreme, and price surge upwards towards new ATH. If they break 1.38 fib levels, it means that we are on the next leg up (and no longer in a correction)!
For $ZIL's sake, let's hope the Bulls have been awakened here.
It seems that we are now in a Corrective Wave ABC (Flat 3-3-5).
Depending on the kind of price action confirmations we get in the next few days, $ZIL could see 2 types of results from here:
Result 1
Bears win, and price is pegged back down. Bulls lose momentum and price dips towards a Corrective Wave C. TP: $0.081.
Result 2
Bulls reign supreme, and price surge upwards towards new ATH. If they break 1.38 fib levels, it means that we are on the next leg up (and no longer in a correction)!
For $ZIL's sake, let's hope the Bulls have been awakened here.