ZEC testing important levels and indicators on it's way to $150
As you can see on this weekly log chart you can see ZEC has broken above the Ichimoku Cloud with some strong volume. On the Fibonacci retracement indicator you can see ZEC is now testing the 1.618 level @ $111.75
The red horizontal lines are major support or resistance for ZEC.
On the LMACD you can see it is above 0 and has a nice bullish divergence to it since around March 2019.
You can see ZEC has now moved above all EMA's and MA's and should form the 'ribbon' type look I have spoken about in other analysis on BTC. The small light blue line at around $134.00 is the MA 200 and ZEC would need to firstly conquer the 1.618 fib level we are testing currently then break above the MA 200 and the major resistance level at $150 if ZEC is to go parabolic. I think the $150 will be the target for now and re assess if ZEC gets above this.
On the RSI you can see the major resistance level shown by the red horizontal line. Each time ZEC has hit this line it has dumped considerably. This could line up perfectly with the rise to $150.
On this monthly chart below you can see ZEC is now testing the EMA 34 (in pink) and the EMA 10 (in blue) is about to cross over the MA 21 (in orange).
ZEC needs to close above the current fib level to make it's move to $150. If ZEC gets rejected here I expect it to re test the $100 area. On the daily chart ZEC has already closed once above this 1.618 fib level and I require it to close twice to usually confirm the move.
Happy trading legends!
HTBB
Donations via TradingView coins will enable me to post more of my analysis with more information. Thanks in advance if you are a legend who donates.
Lookout for the launch of my website, coming soon.
The red horizontal lines are major support or resistance for ZEC.
On the LMACD you can see it is above 0 and has a nice bullish divergence to it since around March 2019.
You can see ZEC has now moved above all EMA's and MA's and should form the 'ribbon' type look I have spoken about in other analysis on BTC. The small light blue line at around $134.00 is the MA 200 and ZEC would need to firstly conquer the 1.618 fib level we are testing currently then break above the MA 200 and the major resistance level at $150 if ZEC is to go parabolic. I think the $150 will be the target for now and re assess if ZEC gets above this.
On the RSI you can see the major resistance level shown by the red horizontal line. Each time ZEC has hit this line it has dumped considerably. This could line up perfectly with the rise to $150.
On this monthly chart below you can see ZEC is now testing the EMA 34 (in pink) and the EMA 10 (in blue) is about to cross over the MA 21 (in orange).
ZEC needs to close above the current fib level to make it's move to $150. If ZEC gets rejected here I expect it to re test the $100 area. On the daily chart ZEC has already closed once above this 1.618 fib level and I require it to close twice to usually confirm the move.
Happy trading legends!
HTBB
Donations via TradingView coins will enable me to post more of my analysis with more information. Thanks in advance if you are a legend who donates.
Lookout for the launch of my website, coming soon.
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