š#ZEC update:
$ZEC on the daily timeframe has successfully completed an inverse head and shoulders formation, a textbook bullish reversal pattern. The neckline breakout around the 45 level has been retested and is now acting as strong support, confirming the validity of this structure. $ZEC is also holding above both the 9 EMA at 49.8 and the 50 SMA at 42.1, which keeps the overall momentum tilted to the upside. The breakout was supported by rising volume, further strengthening the bullish case.
As long as $ZEC continues to respect the neckline support, the bias remains bullish with continuation targets sitting in the 55ā58 zone, with an extended push possible toward the 62 area. The invalidation of this setup would be a daily close back below 45, which would negate the pattern and shift the momentum. For now, ZEC is maintaining structure and looks set for further upside in the coming sessions.
