$ZEC This rebound has been fairly strong, and price is now testing resistance around the $1,235–$1,240 neckline. The chart shows signs of a potential inverse head-and-shoulders pattern, but the bulls need to break decisively above this resistance for the pattern to be confirmed.
I’m watching closely to see whether price can hold above $1,240. If it breaks through convincingly, the first target is $1,260, followed by the $1,285–$1,290 area. If the pattern plays out, a measured-move projection puts the target at around $1,370.
On the other hand, if the bears defend this neckline and push the price back down, ZEC will very likely continue to pull back.
I’m watching closely to see whether price can hold above $1,240. If it breaks through convincingly, the first target is $1,260, followed by the $1,285–$1,290 area. If the pattern plays out, a measured-move projection puts the target at around $1,370.
On the other hand, if the bears defend this neckline and push the price back down, ZEC will very likely continue to pull back.
