Alternative text: ZEC/USD Hourly Fibo
The currency pair is neutral in the short term as it stays between two areas - $274.81 (support) and $294.58 (resistance). Zcash has tested the on Wednesday and sellers were unable to develop a downside tendency. The price is lose to the $294.58 in the moment of writing. What are the possible scenarios for ZEC/USD?
1. correction scenario. The currency pair will test the at $294.58 and if successful, bulls will be able to drive ZEC/USD even higher targeting the red descending on the Hourly chart. The correction will be deeper in this case.
2. scenario. Zcash will jump off the at $294.58 targeting the closest at $274.81 to test. If successful, seller will be able to break this horizontal channel and to push ZEC/USD even lover.
3. Neutral scenario. The currency pair will stay within this horizontal channel.
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