By the grace of Allah the most high my previous idea has been executed exactly as per defined targets:
Now on the weekly chart the priceline is having very nice bounce from 25 and 100 simple moving averages moreover the 25 also has formed bull cross with 100 . The 200 is at $135 that can work as strong resistance as well.
On the priceline is moving in since 1st Aug 2020. Now finally the priceline is closed above exponential moving averages with the time period of 10 and 21. The 10 and 21 also have formed bull cross that can lead the priceline of Zcash to breakout the resistance of this as well.
of complete channel showing no interest of traders below $51 and very less interest above $80. Therefore a movement upto $80 is confirmed and there will be less chances to break down the support.
As we have seen earlier that the priceline of ZEC is getting bounced from the 25 and 100 SMAs on the weekly chart and also closed above the EMAs 10 and 21 on and likely to break out the resistance of the as well. In the meanwhile, it has also formed the most significant move and that move is the price action has reached the support. And this is the most strongest support since Nov 2019. We can observe that after reaching at this support the priceline 1st rallied 186% then 209%. At this time we can again expect another powerful move again.
Even though the priceline is having a very nice bounce from the long term support on weekly chart, however, we should use this support as stop-loss as well. If the next rally will be started from here (as it seems to be) then a move up to 200 can be expected that is at $135 at the time of writing.