ZILUSD Strong break-out but wait for the MA200 if you missed it.

Zilliqa (ZILUSD) is on a strong bullish break-out since Saturday, having broken above the Lower Highs trend-line of its May 06 2021 High. At the same time it broke above the 1D MA200 (orange trend-line) as well, which should now act as the long-term Support if the market is to build a sustainable uptrend from now on.

If we exclude the COVID crash of March 2020, we see a similar bullish break-out on ZIL during the last Cycle. The 1D MA200 break-out on February 03 2020 was followed by this Black Swan event and after the market stabilized, ZIL made a last 1D MA200 test before the rally towards the previous long-term Resistance. So if you missed the current break-out, it would be best to wait for a pull-back near the 1D MA200 again, unless we witness another Black Swan event, which of course don't come and go every year. Our projection is that ZILUSD can test its 0.2600 - 0.2700 Resistance Zone by the end of June.


--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------