ZRXUSD is aiming the $1 level and bullish pressure is mounting
ZRXUSD
In daily timeframe we have seen a clear bullish engulfing pattern today. And the candle was so big enough to push the upper side limit which is holding this crypto since May 2020 and ZRXUSD has managed to reach the yearly high around 0.960000 level which is around $1 and felled below the .50 level and started trading within a confined range and it cannot break the 0.55 resistance level.
Today we have seen a clear break out of the upper side immediate resistance. And 0.60 will act as decent resistance for the bull. And after that 0.70,0.80 and 0.90 will come in to light in coming days.
We can see the series of Minor Elliot correction waves are formed within this narrow trading range. During the weekend investors will search for a new lows to buy @ the tip rule.
.30 has clearly acted as good support for the bull since may this bear cannot breach this level. Currently .382 Fibonacci level is also acting as strong resistance and the today upward thrust was capped by the .50 Fibonacci retracement level comes around .740000 level.
On upper side .824000 would be a decent target for the bull as its coincides with .786 Fibonacci level. $1 will be a swing target
All the 02 EMA's (50,100,200) is acting as decent support for the bull.
Ichimoku cloud is still red and the cloud is acting as decent support too
On Bollinger band it has breached the upper side of the band and the band width is widening and its a clear sign of further bullish pressure was mounting.
In daily timeframe we have seen a clear bullish engulfing pattern today. And the candle was so big enough to push the upper side limit which is holding this crypto since May 2020 and ZRXUSD has managed to reach the yearly high around 0.960000 level which is around $1 and felled below the .50 level and started trading within a confined range and it cannot break the 0.55 resistance level.
Today we have seen a clear break out of the upper side immediate resistance. And 0.60 will act as decent resistance for the bull. And after that 0.70,0.80 and 0.90 will come in to light in coming days.
We can see the series of Minor Elliot correction waves are formed within this narrow trading range. During the weekend investors will search for a new lows to buy @ the tip rule.
.30 has clearly acted as good support for the bull since may this bear cannot breach this level. Currently .382 Fibonacci level is also acting as strong resistance and the today upward thrust was capped by the .50 Fibonacci retracement level comes around .740000 level.
On upper side .824000 would be a decent target for the bull as its coincides with .786 Fibonacci level. $1 will be a swing target
All the 02 EMA's (50,100,200) is acting as decent support for the bull.
Ichimoku cloud is still red and the cloud is acting as decent support too
On Bollinger band it has breached the upper side of the band and the band width is widening and its a clear sign of further bullish pressure was mounting.
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