In other words, it's not one of those vaporcoins that really don't have any purpose but to generate money to the creators. This is a good HODL coin as well, but we're going to use for trading this time.
ZRX woke up from its sleep last December where it went up more than 1200% in price. We've been seeing some sideways action for a while now, taking a close look it's forming a . See the illustration of how a usually works. My indicators are telling me this coin can go up by a lot this coming days.
We have found support on the 0.786 fibonacci line, as well as trend support stretching several days back. We have a clear resistance at 16505 that we have to push through in order to get some nice gains. Luckily for us this is a great entry point because we have some big buywalls behind us. So how do we trade this? Let's take a look....
Entry: 0.0001430 - 0.000151
Longer term targets:
0.000122 (18% risk)
If you want, you could place a stop loss just under the flag if we're to go down, then you could rebuy at the lower from december.
Now we're seeing a "last kiss", meaning we're coming down to previous resistance (now support) before we go back up again.
If you want to refill buying here would be wise, set a stop loss 3%, should be around the 0.0001632 area.
Decision time soon! Looks like a bull flag to me. MACD is flattened out, stoch point down (meaning we can retry support). I think we will touch support again and then hopefully ZRX will come to its senses and give us some juicy profit.