$ZEC Zcash's Bullish 'W' Pattern Signals Potential Reversal

Zcash (ZEC) is forming a distinct bullish 'W' pattern, also known as a double bottom, on its daily chart. This indicates strong support has been established at a critical price level, with the center peak of the 'W' marking a key area of resistance. For ZEC, this formation suggests that selling pressure has been exhausted and a trend reversal may be in its early stages. The signal will be confirmed with a decisive breakout above the pattern's neckline—the peak of the 'W'. A successful breakout could trigger a significant rally, with a price target often projected equal to the pattern's height, marking a potential shift in momentum.$LUNC $LUNA

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ZEC

333.9

-4.52%