ZenCash is set to breakout of triangle - But in which direction?

If you'd taken my bullish recommendation ZenCash (ZEN), after the Welto partnership in October last year, then you'd currently be sitting on some nice gains. Since then it has only gained strength, reaching a peak of $65 earlier this year.

It's currently ranked just outside the Top 100 with a market cap of $130 million, which is approximately 10% of Zcash. While impressive, it seems that this privacy coin has a lot more to offer after an already stunning performance in 2017. After reaching a year low below $25 earlier this month, it's now sitting uncomfortably at $40.

As you can tell by the image below, it's unlikely to stay at this price for much longer. Personally I've already entered another position at just under $40, but otherwise aim to pick up another around $20-25 if the breakout is down hill. It's always hard to predict smaller cap investments, this is why investing at different levels can be a useful tactic.

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