Zcash Breaks Key Resistance Level, Targets Potential Rally to $60
Technical analysis indicates that Zcash (ZEC) has surpassed a significant resistance zone, suggesting potential for further gains.
- ZEC traded sideways since February, facing seller dominance above $40.
- Support has been consistently found near $25.
- On Sunday, ZEC broke through the $40-$43 supply zone, reaching a high of $45.80.
- This breakout aligns with bullish technical patterns suggesting a possible rally towards $60.
- Breakout traders may enter positions as prices exceed established resistance levels.
- Monero (XMR) recently experienced a similar breakout with a bullish golden cross, rising above $300.
