Zcash ZEC/USD is trading at 507. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Zcash. Ichimoku Kinko Hyo signal line area test near the 495 level is expected, from which we should expect a rebound and an attempt to continue growth with the goal above the level of 605.
Zcash forecast & analysis ZEC/USD on January 6, 2018
Earlier, a weak signal was obtained for buy of Zcash cryptocurrency due to the crossing of signal lines at 455 level. Cancellation of the variant of Zcash quotations growth will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 440, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ZEC/USD is with a breakdown of the resistance level and closing above 540.
At small time intervals, a reversal pattern «Head and Shoulders» is formed, which indicates an attempt to grow already from the current levels. The target of the model is the area at the level of 585. Canceling the model will perform a breakdown level 480.