Zcash (ZEC) Breakout
The first Zcash hard fork called “Overwinter” is fast-approaching this June, and the price of Zcash has really begun to breakout the past couple days as the price has rallied from $258 to $374 since Sunday’s close. A potential area of support for ZEC is near the 50% retracement of the downtrend from February through March, which happens to align with the midpoint of the body of today’s candle. A potential target is for a retest of today’s high near the 61.8% retracement at $317.65 and a full retracement at $494.00 if that level breaks. The current daily ATR is at $30.76, and so a potential stop could be placed one-half that amount below the entry if the price tests the projected support level, and adjusted that amount below each successive higher low.
I always like seeing ZCash get more publicity.
Congratulations @hasankhan19! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP