Zencash was having a correction after being listed in Binance, wich gave the coin a huge pump. During this correction it network suffered from a 51% atack wich boosted it's selling force.
The team acted fast to minimize the damage of the atack and reported back to the community fast, wich in my opinion show how dedicated they are with the project.
This bearish movement speeded up the wave comportment of the ZENBTC pair, but it seems that is going to respect the long upward trend.
From my point of view Zencash is oversold right now, forming an uptrend movement that can either be a short or long range uptrend.
* I really believe that Zencash is a strong project for the long run so I took this opportunity to adquire a few more to myself, BUT THIS IS NOT a financial advice, I'm just sharing my thoughts!
The team acted fast to minimize the damage of the atack and reported back to the community fast, wich in my opinion show how dedicated they are with the project.
This bearish movement speeded up the wave comportment of the ZENBTC pair, but it seems that is going to respect the long upward trend.
From my point of view Zencash is oversold right now, forming an uptrend movement that can either be a short or long range uptrend.
* I really believe that Zencash is a strong project for the long run so I took this opportunity to adquire a few more to myself, BUT THIS IS NOT a financial advice, I'm just sharing my thoughts!
Note
I did take my entry now, but is possible that there wil be a better entry in the near future, but right now I believe that the coin is going back to the downtrend that it was before the atack (going up to 0.0032 - 0.0034 BTC)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.