Zcash Eyes $80-$100 as Bullish Momentum Builds!
Welcome to another analysis where we take a look at Zcash!
Zcash is a well-established cryptocurrency with significant potential for future growth!
Recent market activity shows increasing volume for Zcash, including a notable volume spike that pushed its price above the previous high, indicating a potential market shift. Additionally, the 20-day moving average (MA) is approaching a bullish crossover with the 50-day MA, further suggesting a positive trend.
In my assessment, the Zcash chart is currently very promising. For those considering an entry, a strategic buying range would be between $28 and $31, aligning with the 50/20 MA levels.
Historically, Zcash reached a peak of $700 in January 2018. While that level might be ambitious in the short term, a more attainable target for intraday trades would be the $50 range, with a potential upside to $80-$100 where we see a decending trendline from 2021 and more strong ressistance.
The current setup offers a favorable risk/reward profile, with stop-loss levels recommended below the previous low, around $20-$25, depending on your risk tolerance.
Zcash's breakout coincides with BTC dominance encountering strong resistance, and the increasing strength of various altcoins. Additionally, the Russell 2000 index is nearing a breakout, showing investor appetite for smaller-cap stocks and riskier assets.
Thanks for reading and good luck with your trading!
Make sure to follow me on X for more weekly updates: @PuppyNakamoto
ZECUSDT ZECUSD ZECUSD ZECUSD
Zcash is a well-established cryptocurrency with significant potential for future growth!
Recent market activity shows increasing volume for Zcash, including a notable volume spike that pushed its price above the previous high, indicating a potential market shift. Additionally, the 20-day moving average (MA) is approaching a bullish crossover with the 50-day MA, further suggesting a positive trend.
In my assessment, the Zcash chart is currently very promising. For those considering an entry, a strategic buying range would be between $28 and $31, aligning with the 50/20 MA levels.
Historically, Zcash reached a peak of $700 in January 2018. While that level might be ambitious in the short term, a more attainable target for intraday trades would be the $50 range, with a potential upside to $80-$100 where we see a decending trendline from 2021 and more strong ressistance.
The current setup offers a favorable risk/reward profile, with stop-loss levels recommended below the previous low, around $20-$25, depending on your risk tolerance.
Zcash's breakout coincides with BTC dominance encountering strong resistance, and the increasing strength of various altcoins. Additionally, the Russell 2000 index is nearing a breakout, showing investor appetite for smaller-cap stocks and riskier assets.
Thanks for reading and good luck with your trading!
Make sure to follow me on X for more weekly updates: @PuppyNakamoto
ZECUSDT ZECUSD ZECUSD ZECUSD 
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