ZRX is an open protocol that enables exchange on the Ethereum network. It was pretty hyped in August as the ETH network charges started to increase, and ZRX was a cheaper alternative.
Seems to have been trading on a series of bull flags. Bull flag is a continuation pattern characterized by a sudden rise in price followed by a slow decline or sideways movement.
Currently, we are testing the water dipping into the last big historical resistance band. We saw a drop into it this morning with a decent spring back above it.
We've moved below EMA 100 and EMA 200. We've been above this for a month now with the last dip to EMA 100 during the big Sept drop, leading to a quick rebound.
Stoch is bottoming out, could see beginning of a reversal forming soon.
MACD shows a shrinking downward trend.
BUYING IN?
Keep an eye on it! but not buying in right now. Big potential for gains after we leave the downard channel and running into resistance and EMA levels here in promising. Will need to see how the market plays out to see whether this is the buy time or not. If this resistance breaks we could see bigger declines, so don't buy in too big too early and get bit.
When we leave the downward channel, it's game on. Potential for 150% profit long term. I've put some TP's below based loosely on previous resistances, use at your discretion ;)
TP's: 0.52, 0.65, 0.95
SL: 15-20% Max
Aim for the moon, if we miss we land among the stars. Or asphyxiate.
I'm a simple guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
Feedback, criticism and crude humor are welcome :)
Seems to have been trading on a series of bull flags. Bull flag is a continuation pattern characterized by a sudden rise in price followed by a slow decline or sideways movement.
Currently, we are testing the water dipping into the last big historical resistance band. We saw a drop into it this morning with a decent spring back above it.
We've moved below EMA 100 and EMA 200. We've been above this for a month now with the last dip to EMA 100 during the big Sept drop, leading to a quick rebound.
Stoch is bottoming out, could see beginning of a reversal forming soon.
MACD shows a shrinking downward trend.
BUYING IN?
Keep an eye on it! but not buying in right now. Big potential for gains after we leave the downard channel and running into resistance and EMA levels here in promising. Will need to see how the market plays out to see whether this is the buy time or not. If this resistance breaks we could see bigger declines, so don't buy in too big too early and get bit.
When we leave the downward channel, it's game on. Potential for 150% profit long term. I've put some TP's below based loosely on previous resistances, use at your discretion ;)
TP's: 0.52, 0.65, 0.95
SL: 15-20% Max
Aim for the moon, if we miss we land among the stars. Or asphyxiate.
I'm a simple guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
Feedback, criticism and crude humor are welcome :)
Note
Bouncing up today from the support level back towards EMA 200 & 100. keep an eye on it.Note
Seems to have found a decent home just above the fib level noted on the above chart. rebounds on a fairly red day and posts a small red on a rebound day. Odd behavior when looked at against the general market. Signs the bottom may be hit and support may be consolidating for a rise?Will be interesting to see how it reacts against the general market the next few days. If we see further sideways movement and a overall market decline I think it can be taken as a sign the flag has bottomed.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.