Zcash was valued way to high when released, which at its time was a genius marketing move, but not so much for the traders.
Technical
Not much information to go on, chart kinda messed up because of the insane valuation at start. But we have a wedge, and I will be buying the breakout. Looking for it to go as high as 0.145 for this trade.
Buy In (0.065) Stop Loss (0.0485) or under trendline. Target (0.145)
But Zcash is really undervalued. Sitting at 83mil marketcap at the time of writing. Yes there will be much more coins, but we have over 1 million already and I excpect the demand to overtake the supply in the coming days/weeks. There is big hype around crypto and especially altcoins now a days, and Zcash should have a higher valuation.
If you read more into the article provided above you can also see that the team is planning some releases and will work closely with Ethereum, which is very positive for the coins valuation in my perspective.
Komen
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One week left of triangle.
Looks to me like we are gonna complete it, so 5-7 days more sideways before we get a breakout either up or down.
Really thought it would break out with the Apple news, but well well :)
This combined with acceptence on Apple store and XMR problems, I feel confident that Zcash will break to the upside on this triangle. Just a couple more days, and we will see.
Someone obviously don't want that line broken. 300 BTC buy wall placed at trendline.
Komen
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It waited until the last day! That's amazing. But we have a breakout to the upside!! Now lets hit that 0.145!
Komen
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Serious alt dump because of BTC lately. But you can see Zcash finding heavy support on our line now. Orderbook on Polo is heavy on the buy side and each dump down finds buy support at the line.
Komen
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Finding lots of support around that trendline.
Next bull day for alts, ZEC is going up significantly I believe :)
Komen
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Broke it yesterday because of BTC movement. I still have my position, but looking to stop loss if it cant hold 0.048
@kiennv.bk, Let's hope so! With the current bullmarket in altcoins it's highly likely that it will do just that.
When/if it breaks out, traders and investors will notice that alot of Zcash has been mined already.
Currently most people is still in the old mindset of:
"Zcash cant go anywhere, too many coins distributed through mining each day, will have to wait until the inflation slows down.."
That's some real good timing! lol :D