ZECUSD broke above the 1D MA100, first time since April.

Aug 9, 2022

Zcash (ZECUSD) broke today above its 1D MA100 (green trend-line) for the first time since April 29. Coupled with the emerging Bullish Cross on the 1W time-frame, this is most likely a bullish extension signal, targeting the 1D MA200 (orange trend-line) and the 0.618 Fibonacci retracement level (122.00).

It would be best to wait for a 1D candle close above the 1D MA100 to have a confirmed signal, otherwise we may get one last pull-back to the 1D MA50, presenting the best buy opportunity.



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