Zcash is entering a Major Resistance zone and possible top. Above this one remains another resistance of previous high. If we clear both, there are a Wide Open space for a big jump.
Previous ZEC analysis below $63 Targeted from $44
Comment
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Looking Strong
Back in the resistance zone after initial rejection: And trying to establish support.
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Zoom IN (8 min) Very nice recognition of the blue 2.236 and 2.238. The reaction at the 2.382 earlier, told us its sister fib 2.236 would be relevant.
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Zoom OUT (4 hr) and looking UP Given the proven relevance of the blue fib, we will be looking for reaction at the blue 1.764, the top bound of next resistance zone.
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SUMMARY: - Recovered well from initial rejection and now looking to flip resistance into support. . Ideally it will hit the top bound at $65.27 before next pullback. - We can adjust next target closer to $76.30 based on blue fit's relevance.