Hello everyone, today I would talk about a privacy focused cryptocurrency that in the last six month make us feel like we was in a rollercoaster, thanks to the growing interest on privacy coin and to the entry of institutional investor (in the crypto market in general) Zcash  make a lot of movement, lets see what we can expect from the future.

Since start of January till mid February we pass from a valuation of 26 Dollar to an astonishing  maximum of 75 Dollar with almost a +200%, what a return of Investment,  anyway we all know that the panic sell-off that started on that month was a bloody painful movement as we arrived at around 17 Dollar.

The actual uptrend started just from the bottom of the panic selling we experience few month ago, the trend is very solid and it seems able to reach new highs in the future as despite the  drawdown of the crypto market it is still valid.

Looking at the Fibonacci retracement we can see that the rebound find almost no barrier until it reach the 50% (the 0.5 retracement) and now the valuation are in the key level of 61,8%, this level in my opinion is the one to take care, right now Zcash look fairly strong to been able to keep going and pass this important resistance.

In case the 61,8% retracement will be overcome there is no obstacle till the next resistance that match with the 78,6% of retracement at 63,50 Dollar. The real target in the long run will be the 73 Dollar that we saw on mid February, anyway lets see the closer support and resistance.

Talking about supports we find the first at 50 Dollar that is also a psychological level, the next is not far from that at 47,9 Dollar, the next set of supports are in the forty, one at 42 Dollar and very close another one between 40 and 38 Dollar.

In upward we can expect that the bulls would find sone resistance from the bears at 53,70 Dollars and at 55 Dollars, this resistances will be important for the next run till 63,70 Dollar (at 63,50 we have the 78,6%  Fibonacci level), this major resistance will see a great battle between bulls and bears, for sure a possible “bulls lead” will drive us directly to the 6 month maximum.

Ok that’s all for now, we will see what happen with Zcash in the next weeks….

Thank you for reading and hope you enjoy this post

Remember always to do your own research before investing

You can follow me here at Publish0x or on Twitter

If you read this post and would register to Publish0x this is my referal link (click here)