Zcash cryptocurrency can be expected to rise to the next resistance level 650.00 (which reversed the price multiple times from the start of May).
- Zcash broke round resistance level 500.00
- Likely to rise to resistance level 650.00
Zcash cryptocurrency recently broke the resistance zone between the round resistance level 500.00 (former strong support which stopped waves (iv) and a in March, as can be seen from the daily Zcash chart below) and the 61.8% Fibonacci correction of the previous sharp downward impulse C from the start of June. The breakout of this resistance zone accelerated the active short-term impulse wave 3 – which belongs to the intermediate impulse wave (3) from the start of February.
Given the strong uptrend that can be seen on the daily charts, improved risk sentiment as seen across the crypt markets, Zcash cryptocurrency can be expected to rise to the next resistance level 650.00 (which reversed the price multiple times from the start of May).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.