Pattern: Channel Down on 1W.
Signal: Bullish as the pattern marginally broke to the upside but need also to break above the 14.7000 Resistance top for confirmation.
Target: 34.0000 (the next Resistance).
Horizen ZenCash was launched in May 2017 as a privacy-oriented digital currency ecosystem built on zk-SNARKs (“Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”), an innovative cryptographic technique first introduced by the ZCash ZEC team.
Building upon the ZCash team’s core focus Horizen aims to create a high-performing platform for money, messages...
From ZenCash to Horizen
Horizen, known as ZenCash before rebranding, started through a fork of the Zclassic (ZCL) blockchain. Zclassic itself was a fork of the privacy-centric cryptocurrency ZCash ZEC
More than just a ZCash ZEC fork
Since Zcash is also a privacy-centric crypto, Viglione noted he believes Horizen made a breakthrough in side-chain technology,...
Zen obviously wants to break higher. I am observing it quite a few weeks and allways when we get to 13.xx levels, there comes a pump up. The last one was huge (some partnership announced), so I didn´t think we´ll be able to get back here again. Well, we did. It needed to test the accumulation zone with POC included.
So I can see two possibilities here :
1- We´ll...
Zen is on a huge support and confirming his strength. It´s a great buy right now, but if you like to lower the risk, you can wait for the potentially lower price of 15,5 USD. That seems like the best buy level.
We should test the resistance line of the descending triangle around 26 USD, that is 67% gain from a recent price. On the other hand, 13,8 needs to be...
- ZEN HAS ONCE AGAIN BOUNCED OFF ITS CRITICAL SUPPORT LEVEL AT ~15$ (GREEN HORIZONTAL LINE)
- THE PAST TWO DAYS BROKE UP AND THROUGH THE DOWNTREND RESISTANCE FROM PREVIOUS HIGH (SHORTER RED LINE FROM LAST HIGH)
- THE 10 AND 50 DAY MOVING AVERAGES ARE CONVERGING "THE PINCH+CROSSOVER (BULLISH SENTIMENT)
- MACD AND RSI ARE MOVING WITH UPWARD MOMENTUM
- FIRST...
ZENCASH TRADE
Enjoy this trade advice my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
ZenCash has been trending upwards since 24th of June, and has climbed from $15 up to $34, gaining 134%. Recently ZEN/USD faced the resistance at $32, which is 127.2% Fibonacci retracement level applied to the last corrective wave down.
Price has spiked above the resistance, althogh failed to close higher, suggesting the corrective move down. At the same time ZEN...
Using what little I know about Wyckoff I've outlined the trading range that ZEN seems to have broken out of. We've had test of the support line on diminishing volume. Followed by a move up to the resistance line where ZEN consolidated. After consolidation ZEN moved over resistance. The recent spike down in BTC did not affect ZEN too much as it merely tested the...
