Comparing the actual prices and those of the past I considered to draw a new trend channel which can give an idea for the movements in the past several days.
The price of ZEC moved within the limits 563$ - 417$.
In january 06 the price broke up and normally the trend is broken with such a movement. But with the crash in cryptos the price fell and stabilized in the "old" trend channel.
ZEC and BTC are correlated but interestingly BTC is more volatile than ZEC (overview since november 2017).
ZEC should find support at 404$ (fib retracement 1). If it breaks through this support the next support is to be expected at 370$ and after this support it´ll be 280$.
If support holds, then the course of ZEC can rise to the upper limit of trend channel (554$ / fib retracement 61.8%).
indicators:
negative - but not oversold (RSI)
MACD and ADX in negative terrain and falling
Before investing in ZEC I recommend to wait and see if the support holds or not.
The price of ZEC moved within the limits 563$ - 417$.
In january 06 the price broke up and normally the trend is broken with such a movement. But with the crash in cryptos the price fell and stabilized in the "old" trend channel.
ZEC and BTC are correlated but interestingly BTC is more volatile than ZEC (overview since november 2017).
ZEC should find support at 404$ (fib retracement 1). If it breaks through this support the next support is to be expected at 370$ and after this support it´ll be 280$.
If support holds, then the course of ZEC can rise to the upper limit of trend channel (554$ / fib retracement 61.8%).
indicators:
negative - but not oversold (RSI)
MACD and ADX in negative terrain and falling
Before investing in ZEC I recommend to wait and see if the support holds or not.
Trade ist aktiv:
ZEC still in trading channel. Has tested two times lower limit!
Momentum isn´t strong enough to restart a rise to the fib retracement.
Momentum isn´t strong enough to restart a rise to the fib retracement.