ZECBTC bounces off 100 day MA and continues upward with a range
ZEC has bounced off its 100 day moving average (pink line) and found strong resistance at diagonal lines 2 and 3 as well as long term support line z (green).
Support is offered by diagonal trend line 4 and long term support line y
If the RSI can continue in an upward move above its trendline toward 70, we can see resistance line z approached again.
If the RSI continues downward we will see price test line 4, line y, the 50% fib retracement and the 100 day MA - potentially sending us back into zone 4. Strong support at lines w and x
Very bullish if we can get back into zone 2 and build support
Support is offered by diagonal trend line 4 and long term support line y
If the RSI can continue in an upward move above its trendline toward 70, we can see resistance line z approached again.
If the RSI continues downward we will see price test line 4, line y, the 50% fib retracement and the 100 day MA - potentially sending us back into zone 4. Strong support at lines w and x
Very bullish if we can get back into zone 2 and build support