๐ Daily TA: Zcash (ZEC/USD) | 23-10-2021
Hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Zcash.
As we know very well, in the daily chart (1D), ZEC/USD formed an Inverted Head and Shoulders (common bullish trend reversal pattern) during the Bear Market: Also, as we know a breakout took place in the first couple of months of the year and the price of Zcash surpassed the neckline. Later, a correction started and ZEC/USD dropped to the neckline. As can be seen from the chart, a rebound from the neckline has started. So, it may turn out that we are at the very beginning of the uptrend renewal.
Moreover, in the 4-hour chart (4H), ZEC/USD formed a Bullish Flag (common trend continuation pattern) recently: As can be seen from the chart, the price has already exited the flag and has resumed the uptrend. So, the 4-hour chart confirms the beginning of the uptrend renewal in the daily chart as well.
To be continued ...
As of the time of writing, one ZEC costs $171,51 on the Bitfinex crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
Check @crypto-guides to learn about the essentials of the major cryptocurrencies.
Join the crypto exchange Binance: https://www.binance.com/en/register?ref=28017531 Join the crypto exchange Bittrex: https://bittrex.com/Account/Register?referralCode=3GB-QAJ-BMW
Posted Using LeoFinance Beta
