XRP, ZEC, CAKE: Technical Evaluation For March 22



PancakeSwap (CAKE) might be within the closing portion of an A-B-C corrective construction.

XRP (XRP) is following a descending resistance line however is predicted to interrupt out.

ZEC (ZEC) is buying and selling inside an ascending triangle. A breakout is predicted.

XRP (XRP)

XRP has been growing since reaching a low of $0.365 on Feb. 23. To date, it has reached a excessive of $0.591, doing so on March 22. 

At present, it’s buying and selling proper at a descending resistance line, which has been in place since Nov. 24. 

Technical indicators are bullish. The MACD has simply turned constructive. The RSI has moved above 50. The Stochastic oscillator has made a bullish cross. 

Subsequently, XRP is predicted to interrupt out above this descending resistance line. 

Nonetheless, there may be robust resistance at $0.63. 

Subsequently, some rejection can be anticipated as soon as XRP reaches it, doubtlessly taking XRP right down to validate the resistance line as help. 

Afterwards, the token can be anticipated to interrupt out.

Highlights

  • XRP is following a descending resistance line.
  • It’s dealing with resistance at $0.63.

Zcash (ZEC)

The weekly chart exhibits that ZEC continues to be buying and selling above the primary long-term help space, which is discovered at $110. 

The February lower validated this stage as help. 

Technical indicators are bullish. 

If ZEC continues growing, the following resistance space can be discovered at $245.

The shorter-term chart exhibits that ZEC is following an ascending help line. 

Alongside the short-term resistance at $156, this creates an ascending triangle, which is taken into account a bullish sample. 

The MACD helps the potential of the rise. 

If ZEC breaks out, the closest resistance space can be discovered at $190. 

The 1.61 exterior Fib retracement gives extra confluence on the $245 resistance stage.

Highlights

  • ZEC is doubtlessly buying and selling inside an ascending triangle.
  • There’s long-term help at $110.

PancakeSwap (CAKE)

CAKE has been lowering since Feb. 19, when it reached an all-time excessive worth of $21.45. 

It initially bounced on the 0.618 Fib retracement stage at $8.42. Nonetheless, the following upward transfer seemed corrective, and CAKE decreased afterward.

Subsequently, the more than likely state of affairs means that CAKE is within the C wave of an A-B-C corrective construction.

If that’s the case, it may doubtlessly lower all the way in which right down to $4.90.

The shorter-term two-hour chart exhibits an ongoing bounce. 

Nonetheless, the token is approaching a robust resistance space at $12-$12.60. 

If the beforehand outlined state of affairs is to happen, CAKE may get rejected close to this stage. 

A rise above the $14.71 excessive would invalidate the potential of a drop.

Highlights

  • CAKE might be inside an A-B-C corrective construction.
  • There’s the resistance between $12-$12.60.

For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here.

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