0x0 is a cryptocurrency project designed to enhance privacy and security featuring a variety of AI-based safety tools. In today’s video bog, we’ll explore Elliott Wave pattern taking place within the daily cycle and explain the potential path based on the theory.
Since February 2023, 0x0 rallied into an impulsive 5 waves advance and it ended that cycle in wave ((1)) on March 2024. Based on the Elliott Wave theory, 5 waves structure is followed by a corrective pullback within in 3 , 7 or 11 swings before the market resume the main trend.
The token decline from the peak unfolded as corrective 3 waves ZigZag structure and it already reached the equal legs area at $0.13 – $0.06. The blue box showing in our chart is a technical area where we expect 0x0 to end the corrective ZigZag Structure in wave ((2)). Up from there, the token will turn to the upside in a wave ((3)) looking for new all time highs or at least bounce in 3 waves from there. Consequently, investors bought the mentioned extreme area in anticipation for the daily reversal to take place.
0x0 Daily Chart 7.23.2024
The following video offers a technical outlook based on 0x0 Elliott Wave Daily cycle :
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