Zcash ZEC/USD
Signals:
Position: Long
Entry price: Limit order at 144,51
Target price 1: 173,88 (key price level
as there has both been support and
resistance at this level)
Target Price 2: 194,11
% gain: P1: 20% P2: 34%
Indicators:
DMI: The ADX line is showing a start of bullish momentum where the D+ line is showing a price move.
RSI: The RSI line is above 30 at 61,25 but slightly below 70 which indicates that the token is moving forward at a high pace and there might be signs of
the token being overbought.
Keltner Channels: The Keltner channels is showing that the trend is
going upwards. The price is at the mid to higher channel and indicates on
somewhat of a price strength.
Fear and Greed: This indicator would indicate that the market has extremely greedy investors and that the market is due for a correction.
Analysis:
The analysis indicated on bullish signals and a trending market and the Fear and Greed Index is showing a greedy investor climate, resulting in a consolidation period where there is a larger opportunity to make a significant trade.
An argument to be made for doing this trade is that RSI showing stronger signals and DMI is showing strong bullish signals.
This is not financial advice. Trade at your own risk.
