Is the Zcash Price Rally Over? Continuation Patterns Say ‘Not Yet’
Despite a recent 15% drop, Zcash's price structure, including an ascending triangle and hidden bullish divergence, suggests the rally is pausing, not ending.Summary
Zcash has experienced a massive rally but recently saw a 15% drop, leading traders to question its continuation. However, the chart displays two key continuation signs. First, Zcash is trading within an ascending triangle pattern, with a ceiling near $738 and rising lows, indicating buyers are gaining control. Second, a hidden bullish divergence appeared between the price making a higher low and the Relative Strength Index (RSI) making a lower low, a pattern that previously preceded a 74.85% jump. Furthermore, the Money Flow Index (MFI) suggests fresh dip-buying is rebuilding. For the rally to continue, Zcash must break key resistance levels: clearing $606 could lead to $684, but a daily close above $743 would confirm the ascending triangle breakout and signal a broader resumption of the rally. Losing the rising support near $469 would invalidate the bullish structure.
(Source：BeInCrypto)