Zcash 2018 Bottoms Reached
Weekly
Highest timeframe shows ZEC has reached near all time lows. Price has bounced off 0.02500000 3 times now, leaving us with a beautiful triple bottom. Risk/Reward potential is incredible, Stochastic RSI showing momentum is long term bullish.
Daily
Shifting over at our trend timeframe we see price has formed a double top inside our major resistance. Expecting a retracement towards 0.02765000, this will be the last time we see price Zcash here, according to price. Stochastic RSI showing momentum is bearish.
Finally looking over at our trigger timeframe we see 4hour major support @ 0.03000000 and dynamic support @ 0.03100000 (trendline). Price could hold in this zone, a break and close above 0.03150000 activates our trade on the 4hour. Otherwise we wait for a drop towards 0.02765000
Conclusion
Wait for a 4hour close above 0.03150000 / A bounce off 0.02765000
Leaning towards a break towards the upside.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.