ZCash Analysis 5/08 ZEC-USD

ZCash (ZEC / USD) is currently in a triangle-like consolidation formation. In the first movement, the wave y as a final wave was able to finish the entire movement precisely at the 161.8 Fibonacci Extension. Very often triangles form the typical formations in the wave B or X. This is also given here.

I reckon the price will once again head for the upper limit at $ 305.00 before the closing move starts down. The price can overcome the lower bound and should stabilize in the $ 255.00 - $ 240.00 range.

This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!

Cheers Jessy