ZIL insane accumulation period waiting for expansion

2020年5月12日

ZIL has been accumulating in this range for nearly 300 days now.
Last week we saw a large spike up in volume and range high being tested for the 4th time.
As we all know, resistance will get weaker the more it has been tested, it is likely that the next time the resistance is tested, it breaks.
Staking is also being released soon which could act as a catalyst for the price to start moving through resistance

Here are some arguments on why I expect a breakout


ZIL/BTC 1D
200 EMA is being tested for the 3rd day in a row now, breaking it will mean ZIL will be trading above the 200 EMA for the first time since listing in 2 years

ZIL/BTC 1W
- Weekly bollinger band squeeze (and we are trying to break upper bands now)
- Weekly RSI divergence
- Weekly MACD divergence



ZIl/USDT 1D
Price breaking above the trendline + 200 EMA which are both being flipped to support right now. This also is happening for the first time in the history of this coin


ZIL/BTC 3D
A popular strategy for Ichimoku is to trade an E2E when there is a bullish cross (Edge to Edge cloud)
On the 3D we can see the Tenkan and the Kijun crossing bullish and price entering the cloud.
This would be a good signal to trade and E2E and would confirm my high expectations on the weekly.


Fundamental
Staking is comming soon and ZIL has a very strong social media team which they are using very effectively right now.
We are seeing that social interaction and mentions about ZIL are reaching all time highs on social platforms before price has even started rising.