For ZCash (ZEC / USD) there is probably only one word currently describing the current market situation: "WOW".
After the expected breakout on the downside, the price stabilized in the range of $ 230.00. Not too big a miracle, as it featured the typical 61.8 Fibonacci retracement in combination with a wave c-target (Fibonacci Expansion 138.2)
However, I assumed that the reversal already happened in the region around $ 250.00 (gray box). But I have not expected this brutally strong increase, I must admit. This push has killed all the resistance at once, so currently is expected from further rising prices.
According to Elliott Wave, the move is in an impulsive rise of a wave C or Y. After minor corrections, I see further upside potential towards $ 400.00.
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
