ZCoin Bullish Outlook

Looking at the ZCoin seems that bulls are dominating it and sentiment is quite positive. XZC/USD formed a double bottom at $5, after which it broke above the downtrend trendline. It has also broken above the strong resistance at $15 and established a new high since July 2017.

While higher highs and higher lows are being printed, uptrend continuation remains valid and it could be either pump and run or a steady longer-term growth.

The nearest target is 127.2% ($16.5) Fibonacci retracementĀ applied to the corrective wave after the downtrend trendline breakout. If it’ll manageĀ to go higher, and it appears it will, the next target is $22.5 and the final target could be $28.5.

Although no strong corrective waved down are expected, if the price will go below $8.5, it will completely invalidate bullish outlook and will most likely change the direction of ZCoin sending it to new lows.

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