Signals Delivered To Your Fingertips!
Access premium Coinext ZECETH crypto signals by joining our Telegram channel today!
The ZECETH pair has entered in to a narrow consolidation range. A break above the range could conceivably unlock further upside in the pair.
As is evident from the series of rising price peaks and price troughs on the hourly chart, ZECETH is in a short term uptrend . The pair is currently stuck within a narrow congestion range that has prevailed the past couple of trading sessions. 0.650000 represents the ceiling of that range, while the area in the vicinity of 0.600000 marks the floor.
When considering we are in a short-term uptrend, the idea should be to evaluate long trades for the time being. That does not imply that success cannot be achieved by trading against the trend. However, by trading in the direction of ongoing market momentum, the goal is simply to skew the odds of a trade’s success in our favour.
Further supporting our immediate bullish outlook is the Stochastic Oscillator reversing from the oversold zone (<20). As such, traders might seek to execute long positions on an hourly close above the 0.650000-mark. Breakout volumes should be significantly above average to confirm market participation. 0.720000 remains the intermediate term target in the event that ZECETH successfully overcomes the current range.
ZECETH Resistance: 0.650000/0.720000
ZECETH Support: 0.615000/0.560000
Entry Point: 0.656000 ETH
First Target: 0.712000 ETH
Second Target: 0.755000 ETH
Stop Loss: 0.615000 ETH
Entry Point: 0.615000 ETH
First Target: 0.568000 ETH
Second Target: 0.525000 ETH
Stop Loss: 0.652000 ETH
- Absence of greater than average volume in the event of an upside breakout could produce a false move