After a classic accumulation phase starting in May and ending late October, ZEC had seen a breakout of nearly 75%.
Reaching a high of $300 on the 25 November, ZEC has transition into a correct wave. ZEC proves to remain very technical in its main support and resistance levels. Equally, it maintains a balanced and easily observable Elliot wave structure. By extrapolating with some key Fibonacci levels we can identity some clear areas of confluence which are observable on the chart provided.
ZEC remains bullish however if key support levels are lost we can see a rotation back into the old range. Particularly it would be important to hold the VAL so that we set up for a nice running flat.
Reaching a high of $300 on the 25 November, ZEC has transition into a correct wave. ZEC proves to remain very technical in its main support and resistance levels. Equally, it maintains a balanced and easily observable Elliot wave structure. By extrapolating with some key Fibonacci levels we can identity some clear areas of confluence which are observable on the chart provided.
ZEC remains bullish however if key support levels are lost we can see a rotation back into the old range. Particularly it would be important to hold the VAL so that we set up for a nice running flat.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.