1st reason the most undervalued coin among top 100 cryptocurrencies:
If we watch the history of the ZEC as per Bitfinex exchange. Then it was enlisted there in the last week of September 2016. When it was being traded above $2600. In the meanwhile the Bitcoin was being traded at almost $600. So at that time the Zcash had more value than the Bitcoin . Therefore at this time Zcash at is one of the most undervalued coin among the top hundred cryptocurrencies. But if we watch the first long term rally by the ZEC coin that was started from Feb 2017 to January 2018, that was more than 2200%. On the other side the Bitcoin moved by 1800 percent so there was the difference of 400% in the profit produced by the Zcash price action comparatively to the Bitcoin .
Therefore many traders think that whenever the Bitcoin starts rally the Zcash follows it subsequently but eventually ZEC coin produces more profit than BTC . For example we can also watch the recent rally from March up till now. Where the Bitcoin has rallied more than 160% whereas the Zcash has rallied more than 170%.
On The Zcash and the Bitcoin both has formed an . At this time almost every top cryptocurrency has formed such kind of on the . Both the ZEC and BTC have reached at the support of his so there are chances that both coins will start another rally to reach up to resistance to make another attempt for the break out. We can also observe that within this channel the Zcash has produced more gains than the Bitcoin .
Chart patterns on weekly chart:
Now if we switch on the weekly chart then it can be observed that the Zcash has formed pattern. And it has already bounced from the support of this . But so far it did not reach up to the resistance of the channel so there are chances that it will move further more to reach up to the resistance. However if we watch the Bitcoin on the weekly chart then it has formed a and after hitting the resistance the leading cryptocurrency is likely to drop down. However if the Bitcoin will start rally from here then it is possible that ZEC coin will be not pulled back like other cryptocurrencies. I'll tell you the reason why it will be not pulled back with the other cryptocurrencies when I will explain the second reason. However the sideways movement within this is possible.
Second reason a big and due move:
After the drop of March 2020 we have witnessed that many cryptocurrencies completed their final berish legs of different patterns. And if we talk about the Bitcoin and Zcash then Bitcoin formed a very big pattern on the monthly chart and on the other side the Zcash also formed is very big pattern on same monthly chart. However as per Fibonacci sequence the Bitcoin took and has entered in the potential sell zone or the of A to D leg of , but if we watch the ZEC coin then it is still moving in the potential reversal zone. Therefore as per Fibonacci sequence of pattern the powerful rally by the Zcash is still due. The price action is still moving in potential reversal zone and this potential reversal zone in itself is a very strong support for the price action. Therefore we can expect if the Bitcoin to be dropped from here or starts a correction rally then Zcash will move sideways within this PRZ level. And when the Bitcoin will start the rally then the Zcash will start its due move as per Fibonacci sequence of this and will beat the Bitcoin in profitability.
Zcash is far more undervalued coin among go all the top hundred cryptocurrencies. Therefore when the Bitcoin will start rally then ZEC coin can try recover its lost value that was more than $2,600. It is the normal behavior of the Zcash that whenever the Bitcoin starts the rally the ZEC follows it subsequently and produces more profit than Bitcoin . And this due move of can lead The Zcash to produce more profit than the Bitcoin again.