ZEC Falling Wedge Breakout Soon To Be Decided
Updated
Big falling wedge pattern in ZEC/USD.
$70 is key support level. Price briefly tested this area recently. Would make a great base for a huge leg up. In order to confirm breakout of the falling wedge we will need a candle body close above the light grey diagonal resistance line. Look for a retest upon break out but sentiment could switch to bulls quickly.
Also we might have a golden cross on the daily candle, after xrp daily candle had a golden cross the following day saw a 50% pump.
Interestingly, a 50% pump would take ZEC to the majorly anticipated resistance around $110.
Most intraday timeframes are in overbought territory in Stoch RSI .
What will ZEC do? (prob 100x in a year like BTC did after its first halving)
Not investment advice.
$70 is key support level. Price briefly tested this area recently. Would make a great base for a huge leg up. In order to confirm breakout of the falling wedge we will need a candle body close above the light grey diagonal resistance line. Look for a retest upon break out but sentiment could switch to bulls quickly.
Also we might have a golden cross on the daily candle, after xrp daily candle had a golden cross the following day saw a 50% pump.
Interestingly, a 50% pump would take ZEC to the majorly anticipated resistance around $110.
Most intraday timeframes are in overbought territory in Stoch RSI .
What will ZEC do? (prob 100x in a year like BTC did after its first halving)
Not investment advice.
Comment
Looks like were headed back to the diagonal support line to retest the recent low. If that holds this trade setup still stands.Comment
Pattern holding & breakout still expected.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.