ZILUSDT is creating a falling wedge

ZILUSDT, the market is showing a falling wedge pattern, which is a bullish chart pattern characterized by two converging trend lines that slope downwards. This pattern usually indicates that the asset is experiencing a period of consolidation, and that a breakout to the upside is likely to occur.

However, the market has lost its weekly support on the 0.029 $ area, which means that there is a risk of the price continuing to decline. In order for a new long position to be considered according to Plancton's rules, the price would need to create a breakout from the weekly resistance and then retest it as new support. This would confirm that the market has shifted from a bearish to a bullish trend.

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Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  
• ⚫️ Black structure -> <= 1h structure.
  

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