ZCash The Laggard

ZCash has taken a beating these last few months and has fallen from the top of the pile. It also has not seen the type of pumping that most other alts have seen recently. I'm watching 6 month long descending wedge that appears to have finally broken. Following the break we have had 3 days of textbook consolidation with daily inside bars and today had a break of that pattern to the upside. Will be looking for a break of the local swing high.

Targeting 0.065 and .1, with some trade volume to be left to ride.

Kommentar:

Pattern still holding. BTC is doing a good job suppressing the price here and bringing uncertainty into the space however we have seen 2 days now push above the resistance I was watching. Just looking for a daily close above the purple range.

Regardless of which way BTC goes, fundamentally I think ZCash sees upside through the first quarter of 2018.

Kommentar:

Re-entered previous range. Would like to see it hold that .0444 low.