Pancakeswap (CAKE), Ripple (XRP), Zcash (ZEC): Análisis técnico – BeInCrypto

PancakeSwap (CAKE) could be at the bottom of an ABC corrective structure.

XRP (XRP) is following a descending resistance line, but is expected to break it.

ZEC (ZEC) trades within an ascending triangle. A break is expected.

XRP (XRP)

XRP has been on the rise since hitting a low of $ 0.365 on February 23. So far, it has peaked at $ 0.591, doing so on March 22.

Currently, it is trading right at a descending resistance line, which has been holding since November 24.

Technical indicators are bullish. The MACD just turned positive. The RSI has exceeded 50 points. The Stochastic Oscillator has made a bullish crossover.

Hence, XRP is expected to break above this descending resistance line.

However, there is strong resistance at $ 0.63.

Therefore, some rejection would be expected once XRP reaches it, potentially taking XRP down to validate the resistance line as support.

Afterwards, the token is expected to break.

Highlights

  • XRP is following a descending resistance line.
  • It is facing resistance at $ 0.63.

Zcash (ZEC)

The weekly chart shows that ZEC is still trading above the main long-term support zone, which is at $ 110.

The decline in February validated this level as support.

Technical indicators are bullish.

If ZEC continues to rise, the next resistance zone would be at $ 245.

The shorter-term chart shows that ZEC is following an ascending support line.

Coupled with short-term resistance at $ 156, this creates an ascending triangle, which is considered a bullish pattern.

The MACD supports the possibility of the rise.

If ZEC breaks, the closest resistance zone would be at $ 190.

The External Fib recoil 1.61 provides further confluence at the $ 245 resistance level.

Highlights

  • ZEC is potentially within an ascending triangle.
  • There is long-term support at $ 110.

PancakeSwap (CAKE)

CAKE has been declining since February 19, when it hit an all-time high of $ 21.45.

It initially bounced off the 0.618 Fib retracement level at $ 8.42. However, the subsequent upward movement appeared corrective, and CAKE declined afterwards.

Therefore, the most probable scenario suggests that CAKE is in wave C of a corrective structure ABC.

If so, it could go as low as $ 4.90.

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

However, the token is approaching a strong resistance zone between $ 12 and $ 12.60.

If the scenario described above occurs, CAKE could be rejected near this level.

A rise above the high of $ 14.71 would invalidate the possibility of a fall.

Highlights

  • CAKE could be within an ABC corrective structure.
  • Resistance is between $ 12 and $ 12.60.

To see the latest Bitcoin (BTC) analysis from BeInCrypto, click here.

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Pancakeswap (CAKE), Ripple (XRP), Zcash (ZEC): Análisis técnico – BeInCrypto

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