$ZEC appears to be forming a potential M-pattern, or double-top setup, which could signal downside if the neckline is eventually broken and confirmed.
The first step is identifying the neckline — the swing low formed between the two major peaks.
Since the two highs are not exactly at the same price level, the target can be estimated using the average level of the two peaks and measuring the vertical distance down to the neckline.
If$ZEC breaks below the neckline and confirms the breakdown, that same measured distance can then be projected downward from the neckline to estimate a potential downside target.
Keep in mind that this is only a technical possibility, not a guaranteed outcome.
No neckline break = no confirmed double top.
The pattern provides the setup, while the neckline provides the confirmation.
Not financial advice. Always do your own research and manage risk carefully.
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