ZenCash looking Healthy - Broke out of Resistance.
Hi traders, let's talk about ZenCash.
ZenCash.
- ZenCash has been trading strong since its listing on Binance, the project is finally back on page 1 of CoinMarketCap and currently occupying the 92th position:
- Most of the volume today is coming from Binance against Bitcoin:
- This surge in volume probably being due to a recently announced 10,000 ZenCash giveaway competition organized by the exchange:
Technicals.
- Technically ZenCash has broken out of resistance on its BTC/ZEN chart which is great news and suggest that the market is gaining maturity after months of range-bound action:
- If the meta-trend (Bitcoin) holds up, I wouldn't be surprised to see ZenCash retest all-time-high very soon, however risk management prompts me to define profit taking target on this move, particularly because Bitcoin is looking on the verge of collapse;
- If you'd like to know more about my views on Bitcoin you can head over there and if you'd like to know more about ZenCash and how you can set up a Secure Node to generate passive income then check out that post.
Trade Safe!
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Coins mentioned in post:
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