Zcash (ZEC) has risen above the $470 level, but it still needs to form a new higher low above the $480 price level and reach $510 for the uptrend to be confirmed. However, based on the higher time frame, Zcash must break above $520 to establish the uptrend.
Zcash needs a higher low above $480
Crypto analyst Ardi spotted ZEC once again tapping into the $470 and $480 liquidity zone. However, Ardi mentioned that for the uptrend to be confirmed, the prices holding within this range are not enough. For the uptrend to be confirmed, the analyst made two requirements: ZEC should make a new higher low above the $480 level and then break above the $510 price level.
Zcash need a clean break above $520 on higher time frame
In the event that ZEC is not able to hold the price range ($470-$480), there is a high chance of it crashing to the $450 level, which then would dismantle all possibility of an uptrend.
Although Ardi’s observation on the 4-hour chart states that ZEC needs a higher low above the $480, ZEC needs a higher low above the $520 on the higher time frames.
Why? As shown in the chart above, ZEC is trading inside a symmetrical triangle. A symmetrical triangle forms when price makes lower highs and higher lows, causing the trading range to narrow as two converging trendlines move toward each other. This shows that neither buyers nor sellers are in full control, and the market is consolidating before a potentially larger move.
As the triangle approaches its apex, price becomes increasingly compressed and volatility often declines. The breakout occurs when price moves decisively above the upper trendline or below the lower trendline, usually accompanied by increased trading volume. A breakout above the triangle’s resistance line signals that buyers have gained control and could lead to an upward continuation, while a breakdown below support suggests that sellers have taken control and may trigger a decline.
For ZEC, forming a higher low above $480 would indicate that buyers are stepping in at progressively higher price levels. If ZEC then breaks above $520, it could confirm a bullish breakout from the short-term structure and potentially open the way for further upside. However, a move below $480 could weaken the bullish setup and increase the risk of a breakdown.
