Looking at the chart of ZRX, we like what we see. ZRX's most recent dip was met with buyers as ZRX stayed above its 21-day moving average (green line) after its break out. Buyers eventually pushed ZRX through resistance near 0.26.
We also like that ZRX built a base on top of the 200-day moving average. The fact that ZRX is up today shows it is using the 200-DMA as a launchpad to go much higher.
We think the upside for ZRX is the point where the last leg of the significant decline started. In Elliot Wave terms, they call it a return to the "previous 4th."
Bottom Line: The "previous 4th" for ZRX is at 0.40, and we think it is going there. If Bitcoin ( BTC ) sits still, coins like ZRX may take the lead and start to rally.
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