Following the previous idea on ZCash, it has started to move higher, continuing the long-term uptrend. ZCash has been steadily moving upwards rejecting the uptrend trendline and the 200 Moving Average.
On the 14th of December ZEC/USD broke above the strong resistance area around $450, and on a corrective wave down after the breakout it rejected the $450 level, which is now acting as a support. Obviously, price broke above the triangle pattern and now could be ready to explore new highs.
The very strong resistance is seen near $1500, which means that ZCash could triple in value against USD in the medium term. On the downside, only close below the $156 support could invalidate bullish outlook.
On the 14th of December ZEC/USD broke above the strong resistance area around $450, and on a corrective wave down after the breakout it rejected the $450 level, which is now acting as a support. Obviously, price broke above the triangle pattern and now could be ready to explore new highs.
The very strong resistance is seen near $1500, which means that ZCash could triple in value against USD in the medium term. On the downside, only close below the $156 support could invalidate bullish outlook.
Comment:
It should blow up very soon
Comment:
zcash still trading at the support, price is very good it seems
Comment:
Updated idea... same target, price is at the support
