Big falling wedge pattern in ZEC/USD.
$70 is key support level. Price briefly tested this area recently. Would make a great base for a huge leg up. In order to confirm breakout of the falling wedge we will need a candle body close above the light grey diagonal resistance line. Look for a retest upon break out but sentiment could switch to bulls quickly.
Also we might have a golden cross on the daily candle, after xrp daily candle had a golden cross the following day saw a 50% pump.
Interestingly, a 50% pump would take ZEC to the majorly anticipated resistance around $110.
Most intraday timeframes are in overbought territory in Stoch RSI .
What will ZEC do? (prob 100x in a year like BTC did after its first halving)
Not investment advice.
$70 is key support level. Price briefly tested this area recently. Would make a great base for a huge leg up. In order to confirm breakout of the falling wedge we will need a candle body close above the light grey diagonal resistance line. Look for a retest upon break out but sentiment could switch to bulls quickly.
Also we might have a golden cross on the daily candle, after xrp daily candle had a golden cross the following day saw a 50% pump.
Interestingly, a 50% pump would take ZEC to the majorly anticipated resistance around $110.
Most intraday timeframes are in overbought territory in Stoch RSI .
What will ZEC do? (prob 100x in a year like BTC did after its first halving)
Not investment advice.
Comment:
Looks like were headed back to the diagonal support line to retest the recent low. If that holds this trade setup still stands.
Comment:
Pattern holding & breakout still expected.