Zcash uptrend is obvious as price continues to produce higher highs and higher lows. After reaching the all-time high, and producing a double top at $800 area, ZEC/USD corrected down to $256. The correction resulted in a 70% decline, while it found the support right at the uptrend trendline.
Uptrend trendline has been rejected and price moved up, breaking above the 200 Moving Average. Currently, Zcash corrected back and trading right at the 200MA which is being rejected.
While the uptrend remains valid and Zcash is trading above the $140 previous low, it is becoming more and more likely for the price to produce another all-time high, which could reach $1500 area, although first resistance is at $950 area and should not be ignored.
Uptrend trendline has been rejected and price moved up, breaking above the 200 Moving Average. Currently, Zcash corrected back and trading right at the 200MA which is being rejected.
While the uptrend remains valid and Zcash is trading above the $140 previous low, it is becoming more and more likely for the price to produce another all-time high, which could reach $1500 area, although first resistance is at $950 area and should not be ignored.
Kommentera:
Zcash at the trendline