Charting from Daily to 3-Day charts reflect head & shoulders pattern forming with the left shoulder and head formed. Given price action trends with wild swings up and down, Zcash will either retrace fully to sub $90 or probable right should forms before final retracement.
Once retrace by >70%, historical $ZEC price realizes bullish reversals.
Continuing to see lower highs since 2018, to include May & Nov 2021.
$ZEC has volatile price movements... recently:
1. +116% late Nov 2021
2. -73% from local Nov 2021 high culminating on Jan 24, 2022
3. +89% Feb 24, through Mar 10, 2022
Further downside pressure is likely given the broader macro-environment with inflation spiking, bond yields climbing, and the Federal Reserve meeting on 3/16 with expected rate hikes followed by tightening monetary policy and scaling out of quantitative easing.
Once retrace by >70%, historical $ZEC price realizes bullish reversals.
Continuing to see lower highs since 2018, to include May & Nov 2021.
$ZEC has volatile price movements... recently:
1. +116% late Nov 2021
2. -73% from local Nov 2021 high culminating on Jan 24, 2022
3. +89% Feb 24, through Mar 10, 2022
Further downside pressure is likely given the broader macro-environment with inflation spiking, bond yields climbing, and the Federal Reserve meeting on 3/16 with expected rate hikes followed by tightening monetary policy and scaling out of quantitative easing.
Trade active:
H&S pattern continuation, price target remains valid.
