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"Zcash (ZECUSD) faces claims of artificial hype, with Mark Moss exposing marketing agencies seeking paid promotions. Analyst Rajat Soni warns the excitement may aim to find exit liquidity."
I will actively be searching for the next short entry if price rises. Already down 5% today, more than most altcoins.
SESSION RANGE: $577.54 - $606.09
CURRENT: $572 (pullback after breakout)
RESISTANCE: $580 → $585-590 → $595-600 → $606 (session high) → $620 → $650 → $680 → $710
SUPPORT: $571-572 (Fib 61.8% - holding) → $565 (Handle low - not broken) → $555 → $543 (Bull flag limit)
MOMENTUM: Pullback after breakout | Low volume drops | High volume rises | Bullish divergence
PATTERNS:
Cup & Handle - Still Valid
• Breakout occurred: $606 > $599 rim
• Handle intact: $577 > $565 handle low
• Pullback: Normal consolidation behavior
• Target: $710 (+24% from current)
Bull Flag - Still Valid
• Pole: $488 to $606 = $117.85 height
• Pullback: $606 to $572 = $34 (29% of pole)
• Well under 50% healthy limit
• Target: $723 (+26% from current)
Volume Pattern - Bullish Accumulation
• Drops on low volume = weak selling pressure
• Rises on high volume = strong buying interest
• Classic smart money accumulation
• Precedes major moves higher
TREND: Bullish structure intact | Post-breakout consolidation | Volume dynamics favorable
STATUS: All Patterns Holding
- Successful breakout to $606
- Testing Fib 61.8% support at $571-572
- Handle support ($565) not broken
- Low volume declines indicate seller exhaustion
- High volume advances show buyer strength
- Normal consolidation before next leg up
CURRENT: $586 (consolidating near resistance)
RESISTANCE: $590 → $600 (CUP BREAKOUT) → $620 → $650 → $680 → $700 → $710 (C&H TARGET)
SUPPORT: $580 → $571 (STRONG - Fib 61.8%) → $565 (Handle Low) → $555 (SMA-50)
MOMENTUM: Choppy Recovery (+14.2% from overnight low) | Coiling in Handle
PATTERN(s): CUP & HANDLE CONFIRMED (4/4 criteria) | Bull Flag | Consolidation
Cup: $599→$488→$586 | Handle: Tight σ=$4.66 | Target: $710
TREND: Strong bullish structure (5/6 MAs bullish) | Short-term consolidation phase
STATUS: In HANDLE of Cup & Handle | Ready to breakout above $600 | 90% up handle position
RESISTANCE: $600 → $620 → $650 → $654 → $680 → $700 → $708
SUPPORT: $580 → $571 (STRONG)→ $566 (STRONG - Fibonacci 61.8%) → $543
PATTERN: Bull Flag forming (60% bullish probability)
STATUS: Consolidating $571-595 after rally