ZCASH cryptocurrency can be expected to rise to the next resistance level 636.00 (top of the previous minor impulse wave 3 from the start of May).
- ZCASH reversed from round support level 500.00
- Likely to rise to resistance level 636.00
ZCASH cryptocurrency recently reversed up sharply from the support area between the key round support level 500.00 (which was broken at the start of May, as can be seen from the dilly ZCASH chart below), 20-day moving average, 50% Fibonacci correction of the upward impulse from the end of April and the upper trendline of the recently broken up channel from April, acting as the support after it was broken. The upward reversal from this support zone started the active minor impulse wave 5 – which belongs to the sharp intermediate impulse wave (C) from February.
Given the strong daily uptrend the moderately bullish sentiment can be seen across the crypto markets today, ZCASH cryptocurrency can be expected to rise to the next resistance level 636.00 (top of the previous minor impulse wave 3 from the start of May).