Zcash is moving in a downward channel near the upper boundary, between the two levels.
While moving near the support level, the price formed a head and shoulders pattern before reaching the resistance level.
Price is above the major MAs (1H TF)
50MA broke up 200MA (30m TF)
Price is above liquidity, but volume growth has slowed.
I expect the ZEC may continue to bounce if it fixes above the resistance level and trading volumes increase.
While moving near the support level, the price formed a head and shoulders pattern before reaching the resistance level.
Price is above the major MAs (1H TF)
50MA broke up 200MA (30m TF)
Price is above liquidity, but volume growth has slowed.
I expect the ZEC may continue to bounce if it fixes above the resistance level and trading volumes increase.
