ZEC Technical Analysis: The Long-Awaited Global Reversal

The ZEC cryptocurrency is one of the few that can be called growth-charged. The main growth trend on the ZEC chart was reversed long ago, in the summer of 2021. It is even better for investors who do not feed themselves with hopes for its continuation. Meanwhile, since May 2021, the ZEC price has been moving in a corrective fall channel. Note that the slope of this falling channel is quite small. Buyers were able to easily organize deep corrections in the ZEC market. The latest fall wave of the ZEC cryptocurrency has clearly shown that buyers are ready to take the initiative. Sellers failed to update the local low with dignity and touch the bottom of the channel’s trend line. In most cryptocurrencies, the 9 May weekly candle has a big pin down and the 16 May candle looks deplorable. In the case of the ZEC cryptocurrency, 9 May and 16 May weekly candles show a good price buyout. While the $90 range is under buyers control, we expect a new growth wave with the first global target of $221. The first local target is inside the drop-down channel – $140. Technical Analysis Of ZEC On The Daily Timeframe https://www.tradingview.com/x/QslqRUCF/ Analyzing the movement of the ZEC price on the daily timeframe, you can see the local success of buyers. Having organized a local growth wave by 65%, buyers stopped for a vacation. During this time, sellers managed to correct the previous local wave of growth by only 50%. This is a relatively we...